Mega takeover battle looms as Fortis shareholders back ABN Amro bid

UTRECHT, Netherlands, Aug 6, 2007 (AFP) - The world's biggest banking takeover battle came a step closer Monday as shareholders of Dutch-Belgian group Fortis approved a joint bid for rival Dutch lender ABN Amro.

The takeover attempt, with partners Royal Bank of Scotland and Spain's Santander, was endorsed at an extraordinary shareholders' meeting in the Dutch city of Utrecht after a similar one in Brussels earlier in the day.

The consortium of three European banks is vying with British bank Barclays for ABN Amro.

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Fortis shareholders back ABN Amro bid

UTRECHT, Netherlands, Aug 6, 2007 (AFP) - Shareholders of Dutch-Belgian group Fortis on Monday approved a joint takeover bid for rival Dutch lender ABN Amro, heralding a bidding battle with Barclays in what will be the world's biggest banking takeover deal.

The takeover attempt, with partners Royal Bank of Scotland and Spain's Santander, was endorsed at an extraordinary shareholders' meeting in the Dutch city of Utrecht.

The shareholders also voted in favour of issuing new shares worth 13 billion euros (18 billion dollars) to help finance the deal.

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Fortis shareholders approve ABN Amro bid

BRUSSELS, Aug 6, 2007 (AFP) - Shareholders of Dutch-Belgian group Fortis on Monday approved a joint takeover bid by the bank for rival Dutch lender ABN Amro in the first of two votes on the subject.

The takeover attempt, with partners Royal Bank of Scotland and Spain's Santander, was endorsed by 95.45 percent of shareholders at an extraordinary shareholders' meeting here.

Some 95 percent of the Fortis shareholders also voted in favour of a issuing new shares worth 13 billion euros (18 billion dollars) in order to help finance the deal.

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