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.

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.

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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.