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Barclays pursuing Amro

Barclays pursuing Amro

(19 March 2007 – UK) Barclays Bank is reportedly pushing for a merger with Dutch banking giant ABN Amro which if it came to fruition would create an international bank worth $A196.83 billion. The move comes in the wake of pressure on ABN Amro from some investors, such as UK hedge fund TCI, to merge or break up, according to an article in the UK press.

TCI said it considered the Dutch bank to be undervalued and said it should sell off some of its assets or merge.

Barclays is looking to expand internationally with more than half of last year’s profits coming from overseas.
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