Bank of America says it has 'binding contract' to buy LaSalle
AFP, May, 2007
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WASHINGTON (AFP) — US financial titan Bank of America said Thursday it held a "binding contract" to purchase rival LaSalle even though a Dutch court ruled ABN Amro could not sell the unit without shareholder approval.
Bank of America issued a short statement on its 21-billion-dollar bid to purchase LaSalle Bank Corporation, a US subsidiary of Dutch-based ABN Amro, after the court ruling earlier Thursday appeared to throw LaSalle's future into doubt.
"We have a binding contract and intend to take all necessary steps to protect our legal rights," Bank of America said.
A spokesman for the US banking giant said Bank of America did not want to comment further on the matter.
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