Home | Business News | Browse by Publication | C | Crain's Detroit Business

Some of 2007's big deals don't fit the mold.

Publication: Crain's Detroit Business
Publication Date: 28-JAN-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Some of 2007's big deals don't fit the mold.(Focus)(Bank of America Corp. acquires LaSalle Bank Corp.)(Continental AG acquires Siemens VDO Automotive AG)(American Real Estate Partners L.P. acquires Lear Corp.)

Article Excerpt
Not all of the deals of 2007 will fit neatly on the Crain's list of largest mergers and acquisitions.

Highlighted here are two deals involving global players that have a significant effect here, an unusual debt restructuring and a potential big acquisition that ended up being rejected by shareholders.

Sale of LaSalle Bank spotlights global economy

The global economy? Connect the dots on this deal to see just how global.

To fend off hostile suitors and help complete its planned sale to London-based Barclays plc last April, Netherlands-based ABN Amro Holding NV agreed to sell its Chicago-based subsidiary, LaSalle Bank Corp., which included Troy-based LaSalle Bank Midwest N.A., to North Carolina-based Bank of America Corp. for $21 billion.

That move was considered a poison pill that got rid of the American holdings the hostile suitors wanted. The same day it announced that sale, ABN Amro announced it had agreed to be bought by Barclays for $90.1 billion.

But the hostile suitors - a consortium that included the Royal Bank of Scotland Group plc; Fortis N.V., a Belgian-Dutch bank; and Banco Santander Central Hispano S.A. of Spain -...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Crain's Detroit Business
Outside investors hot on Detroit commercial real estate.(Focus), January 28, 2008

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.