Barclays said today it would abandon its proposed €60 billion takeover of Dutch bank ABN Amro if it cannot get the right terms.
Barclays received strong support from its shareholders today for its proposed €58 billion takeover of Dutch rival ABN AMRO.
Barclays said 90 per cent of shareholders who voted approved the deal, well above the 50 per cent level needed.
Barclays' offer is expected to be beaten by a rival consortium led by Royal Bank of Scotland.
The RBS consortium's mostly cash offer is worth just over €70 billion, leaving it well above Barclays' mostly share offer, which has been hit by a recent slump in bank stock prices.
