Don't Meddle With Bank Buyout, EU Tells Netherlands

Law360, New York (April 19, 2007, 12:00 AM EDT) -- The European Commission on Thursday warned the Netherlands not to interfere in the bidding war over Dutch bank ABN Amro Holding N.V., a move that would violate new Commission laws on cross-border acquisitions.

“This directive stipulates that all the bids should be assessed in a nondiscriminatory way,” said Oliver Drewes, a spokesman for Charlie McCreevy, commissioner for the internal market and services. “Commissioner McCreevy expects them to respect the rules, because in this situation, certain remarks were made about certain bidders by Dutch financial supervisors.”...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.