Dutch court directs ABN Amro to freeze LaSalle sale

At issue was whether ABN’s sale of LaSalle can be considered a “major transaction” requiring shareholders’ approval. Completing the sale is a condition of Barclays’ proposed 63.26 billion euros ($86 billion) takeover of ABN. But RBS, Spain’s Santander and Belgian Dutch Fortis have indicated that they are willing to pay more — as much as 72 billion euros — if LaSalle remains part of ABN Amro. Dutch shareholder group VEB, which asked Amsterdam’s commercial court for an injunction against the LaSalle sale, argued that the deal acts as a “poison pill”, making rival bids for ABN difficult.