Maybe we should start a list of who is not suing ABN Amro. This morning Bank of America filed a lawsuit seeking a court order barring ABN from selling it's Chicago-based LaSalle unit to any other potential buyer or even from negotiating with anyone else, the Wall Street Journal reports.
The Journal explains how this fits in with yesterday’s ruling by a Dutch court halting the sale of La Salle to Bank of America:
The suit follows a ruling Thursday by a Dutch court, ordering ABN to halt the sale of LaSalle until shareholders can vote on it. ABN agreed to the sale to buttress its agreement to be taken over by Britain's Barclays PLC for $89.9 billion in stock, in what would be the world's largest banking deal.
The Dutch court's ruling could benefit a consortium led by Royal Bank of Scotland Group PLC, which is planning to make a competing bid for ABN as well as a rival bid for LaSalle, a key asset that RBC wants.
In addition to seeking an injunction against ABN, the suit claims monetary damages.
A legal expert we spoke with (who requested we not use his name since we won't pay his fees) said that ABN might welcome the Bank of America suit since it could relieve LaSalle of the duty to keep negotiating with other buyers.
Bank of America Sues ABN Amro [Wall Street Journal]