Saturday, May 05, 2007

ABN Amro doens't allow more bids on LaSalle: Groenink did offer to resign informs us that ABN AMRO doesn't allow for more bidding on LaSalle. It refers to the Enterprise court ruling for an explanation. Not the strongest argument if I may say so.

Furthermore, DFT has the news that the RBS consortium are preparing a bid after the weekend. And they also tell that Rijkman Groenink has offered to step down 'for the sake and the good of the bank'. One could argue that is an interesting Freudian choice of words, implying no fault on his behalf.

Then again, he remains a lawyer of course; quoting any other reasons would have the implication that he would step down in recognitions of (the doubts as to) his ability to manage the bank properly. And that would most certainly incur some more law suits.

Words and action, action and words.