EU Clears ABN, Barclays Merger

Law360, New York (August 6, 2007, 12:00 AM EDT) -- The merger of two of the world's largest banks has cleared another hurdle, after the European Commission approved the $88 billion takeover of Dutch bank ABN Amro Bank NV by British financial giant Barclays Plc.

The Commission gave the green light to the merger on Monday, concluding that the deal would not significantly lessen competition in the European Union.

“Barclays is currently not active in retail and corporate banking in ABN AMRO's home market (The Netherlands),” the Commission said in a statement. “ABN AMRO's activities in...
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