The structure to protect against a hostile takeover bid of ABN Amro, provides in parliament for headaches. The Minister Dijsselbloem (Finance) proposed option down the value of the bank up to 1.5 billion euros, bringing the loss further increases for taxpayers.
Today debating the House with Dijsselbloem on the planned IPO of the state bank. It is expected that a large majority for the IPO, but the way the bank is protected is subject to debate. Especially VVD, CDA and D66 are critical of the protective wall, which considerably reduces the value of the bank.
Dijsselbloem chooses to transfer the bank stocks to sell to an independent foundation and certificates. If the bank is likely to be the victim of a hostile takeover, the foundation may revoke the powers of attorney and thus the hostile investors cut off the pass.
Read more about this ‘protective wall’
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