ABN Amro staff unsettled by takeover speculation

25 July 2007

One in six ABN Amro employees is considering leaving their jobs, it has been reported.

The bank's staff have become unsettled by the ongoing takeover battle which they perceive is taking too long and could endanger their positions, according to a report in the Belgian financial daily De Tijd.

The paper cited a survey conducted by unions which revealed that 17 per cent were mulling quitting the Dutch bank.

News of the survey comes as it has emerged that it is now unlikely that ABN Amro's shareholders will approve either of the two bids prior to July 30th, the date on which Barclays had requested that the takeover target made its decision.

The delay has been caused by the newly tabled offer from Barclays, which the shareholders need time to consider, according to a report in the Financial Times.
Earlier this week, Barclays increased its offer for ABN Amro to $93.4 billion and has increased the cash component of the bid to 37 per cent.

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