In particular, the condition that at least 80% of ABN Amro’s issued ordinary share capital as at the closing date was tendered, has not been fulfilled.
As of the closing date, 4.41 million ordinary shares in the share capital of ABN Amro were tendered under the offer, as well as 782,945 American depositary shares. In addition, 5,260 formerly convertible preference shares and 8,466,875 DR preference shares were tendered under the offer.
The merger protocol entered into between Barclays and ABN Amro is now terminated in accordance with its terms and Barclays is requesting payment of the E200 million break fees to which it is contractually entitled.
Marcus Aguish, Barclay’s group chairman, said: The board is proud of the way Barclays senior management conducted the campaign for ABN Amro. We remain committed to continuing our successful strategy of earn, invest and grow.
