Fortis, the Royal Bank of Scotland and Santander have revised their offer for ABN Amro, and have confirmed that the value offered per ABN Amro share remains unchanged at E38.40, while the cash component of the proposed offer has increased to approximately 93%. The decision follows the Dutch Supreme Court's ruling on July 13, 2007, which declared that the Dutch lender could sell its US subsidiary without shareholder approval, delivering a serious blow to the consortium's position.

Under the revised plan, the banks will offer a total consideration of E71.1 billion. Approximately 93%, or E66 billion, of the proposed consideration will be payable in cash, while the remaining 7%, or E5 billion, will be funded by new Royal Bank of Scotland (RBS) shares. The banks have also decided to remove all pre-conditions attached to the LaSalle situation.

However, the bid will be conditional on ABN Amro not having made or agreed to make any acquisitions or disposals of a material part of its business or assets, with the exception of LaSalle.

Prior to the Dutch ruling, the consortium was offering the Dutch bank E71.1 billion, with only a 79% cash offering. This bid was conditional on LaSalle remaining with ABN Amro.

Approvals for the transaction have already been received from a number of regulatory authorities, including the UK Financial Services Authority.