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BUSINESS
April 26, 2007 | From the Associated Press and Bloomberg News
Bidding for one of the largest takeovers in corporate history escalated Wednesday as a group led by Royal Bank of Scotland said it planned a bid worth almost $100 billion for ABN Amro that tops Barclays' offer by more than 10%. Shareholders immediately pressured ABN to commit to accepting the highest bid, ahead of the Dutch bank's annual shareholders' meeting today, and analysts said the key battleground was LaSalle Bank Corp. in the U.S.
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BUSINESS
May 4, 2007 | From the Associated Press
Eager to fill one of the few holes in its coast-to-coast business, Bank of America Corp. hinted Thursday that it wasn't likely to back down without a fight after a Dutch court blocked its purchase of LaSalle Bank Corp.
CALIFORNIA | LOCAL
January 28, 2003 | From Associated Press
George Younger, a Conservative Party lawmaker who was defense secretary in the government of former Prime Minister Margaret Thatcher, has died. He was 71. Younger died Sunday at the family compound in Scotland, former colleagues said. A spokesman for the Royal Bank of Scotland, where Younger was once chairman, said the cause of death was cancer.
BUSINESS
August 3, 2007 | From Times Wire Services
Sempra Energy said second-quarter profit fell 26% from last year even as its energy-trading business produced strong results. The company earned $277 million, or $1.05 a share, compared with $373 million, or $1.43, a year earlier. The 2006 figure included $188 million, or 72 cents a share, from selling a coal-fired power plant in Texas and other assets. Revenue climbed 7% to $2.66 billion.
BUSINESS
November 11, 2008 | Times Wire Services
Sempra Energy, owner of the largest U.S. natural-gas utility, said third-quarter profit was little changed as increased earnings from power generation helped offset its reduced stake in a commodities-trading venture with Royal Bank of Scotland Group. Net income rose to $308 million, or $1.24 a share, from $305 million, or $1.15, a year earlier, the San Diego-based company said. Revenue rose 1.1% to $2.69 billion. Net income from power generation soared 62% to $94 million, mostly on the increased value of long-term energy contracts with RBS Sempra Commodities and other parties when adjusted to reflect changing market prices.
BUSINESS
July 18, 2001 | Associated Press
Mellon Financial Corp. said it's selling its retail banking business to Citizens Financial Group, the U.S. arm of Royal Bank of Scotland Group, for $2.1 billion in cash. The sale will return Mellon to its roots as a private bank, managing money for individuals and corporations, Chief Executive Martin G. McGuinn said. The deal, which includes operations in Pennsylvania, Delaware, New Jersey and Virginia with total assets of $16.
BUSINESS
May 19, 2003 | From Reuters
At least six bids are expected this week for Sears, Roebuck and Co.'s credit card business and there is enough interest for the largest U.S. department store chain to sell the entire operation to one buyer, people close to the deal said Sunday. Sears considered keeping its own branded card and selling just its MasterCard accounts, but with expressions of interest from the likes of General Electric Co. and Citigroup Inc., the sources said they thought the whole unit would be acquired.
BUSINESS
May 30, 2007 | From the Associated Press
ABN Amro received an industry record takeover bid of 71.1 billion euros ($95.5 billion) Tuesday from a group led by Royal Bank of Scotland, but its shares slipped as the Dutch bank's earlier decision to sell its U.S. arm to Bank of America Corp. still clouded prospects for a quick deal. The mostly cash offer by the RBS-led consortium of 38.40 euros ($51.59) a share is about 10% higher than the bid on the table from Britain-based Barclays.
BUSINESS
January 21, 2009 | ASSOCIATED PRESS
The financial crisis has raised questions about the solvency of Britain's banks that may lead the Bank of England to buy up assets from them within "weeks, not months," the central bank's governor, Mervyn King, said Tuesday.
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