Business Services Industry
LaSalle caught in bidding war; RBS bid could mean local layoffs, closings.(News)
Crain's Detroit Business, April, 2007
Byline: Tom Henderson Angry shareholders and a renewed takeover bid, the biggest in the history of banking, have put Chicago-based LaSalle Bank Corp. up for grabs, and whoever wins a bidding contest will determine whether there need to be layoffs and branch closings at its Troy-based subsidiary, LaSalle Bank Midwest N.A.
It was announced last Monday that LaSalle's parent company, ABN Amro Holding N.V., had agreed to sell its American operations, which also included Chicago-based LaSalle Bank N.A., to North Carolina-based Bank of America Corp. for $21 billion, The same day, ABN Amro agreed to be bought by London-based Barclays plc for $90.1 billion, seemingly putting an end to the Royal Bank of Scotland Group plc's bid to buy the Dutch banking giant. At...
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