Barclay's Bid Formally Launched

Barclays has today formally launched its takeover bid for ABN Amro. The formal bid was at £45.5 billion and it is hoped that this bid will beat a £48 billion bid led by Royal Bank of Scotland. ABN Amro investors will receive £8.89 per share in cash and 2.13 shares in Barclays for each ABN Amro share if the Barclays bid is accepted.