NETHERLANDS - Several of ABN Amro's heavy-weight institutional shareholders have spoken out against an external committee tasked with overseeing the takeover of he beleaguered Dutch bank.
Giant Dutch pension fund ABP and financial services firm Delta Lloyd claim Dutch shareholder rights group VEB's proposal to install three external commissioners to oversee the takeover battle for ABN Amro would cause too much confusion and delay.
PGGM, the second-largest pension fund in the Netherlands and major shareholder in ABN Amro, today declined to comment, despite openly participating in a rebellion against the sale of the bank's US subsidiary LaSalle in April.
At the time, ABP, PGGM, pension servicing company Mn Services, alongside Rabobank's asset management arm Robeco, supported a VEB-lead protest against the sale of LaSalle to the Bank of America for US$21bn (£10,5bn).
This latest news came as ABN Amro sent out a letter to its employees, confirming it still favours a merger with Barclays.
Today, however, the bank has published a statement, acknowledging it has received a revised proposed offer from the consortium of Fortis, RBS and Santander.
ABP today declined to comment which of the deals offered it backs, explaining: "We do not want to sit in the chair of the board of a company. Consequently, we do not comment on the strategy of companies, unless we are invited to do so at general shareholder meetings."