Barclays raises offer for ABN AMRO to $93 bn
Barclays new bid was €42.7 billion in shares and €24.8 billion in cash, up from its previous all-stock offer of around €65 billion.Updated: Jul 23, 2007 12:25 IST
Britain's Barclays has raised its offer for ABN AMRO to 67.5 billion euros ($93 billion) and included a cash element as it seeks to regain the initiative in the world's biggest bank takeover battle.
Barclays said on Monday its new bid was 42.7 billion euros in shares and 24.8 billion euros in cash, up from its previous all-stock offer of around 65 billion euros.
However the new offer, which has been helped by a big investment in Barclays from China Development Bank and Singapore's Temasek, is still below a 71 billion euro bid from a group of European banks led by Royal Bank of Scotland.