Economics: Business Formation: Barclays seeks to become world's leading financial-services commercial mega-bank

A massive buyout is reported by MSNBC, "Barclays to buy ABN Amro for $91 billion--Biggest-ever deal in bank sector; ABN selling its U.S. unit LaSalle" (Apr23,2k7). I've covered this story earlier on my own blogs, BizMix and BizMixture for USE (the latter to provide those readers with a specific instructional example for my business-category or "bizcat" of the financial and accounting sector). Those versions originated from an earlier MSNBC/FinancialTimes article and MarketWatch email newsletter, respectively; while today's here originates from AP and includes a richer layer of detail regarding this world-historical business-formation in the sector, and potentially in the "global economic order" (to use Dr Bob Goudzwaard's expression).

Amsterdam, the Netherlands - Barclays PLC said Monday it will acquire ABN Amro NV for $91.16 billion in the largest takeover in financial services, capping a month of negotiations to create a global banking giant and to prevent the splintering of the Netherlands' biggest bank.

A splinter movement, like sharks circling their mutual prey, has launched a bidding war--not just to dismember ABN among themselves, but also to block Barclays from expanding worldwide and particularly in Asia and even more particularly in China and India. The latter two countries have both state-initiated projects and private-enterprise projects, often engaging in joint ventures with non-Asian and Japanese corporations--all of them hungry for cash from mega-lenders.

Under the arrangement, ABN's USA holding, LaSalle, would be sold off to Bank of America.

The splinter movement consists of a consortium of Royal Bank of Scotland, Santander (Spain and 39 other countries), and Fortis (Belgo-Dutch).