Charlotte > News > Industries > Banking & Financial Services - Commercial Banking View Charlotte ... Banks seek to derail ABN A

That could derail a deal announced this week in which ABN (NYSE:ABN) said it would sell LaSalle to Bank of America Corp. for $21 billion. ABN is selling LaSalle, which has $113 billion in total assets, to BofA as it readies a potential sale to Barclays (NYSE:BCS).

A joint statement from the banks says, "The banks have requested that the supervisory and managing boards of ABN Amro take such steps as may be required to ensure that LaSalle Bank remains within the ABN Amro group."

The consortium is offering about $53 per share for ABN Amro. The deal would be 70 percent in cash and 30 percent in Royal Bank of Scotland shares.

Charlotte-based BofA (NYSE:BAC) announced Monday it had struck a deal to buy LaSalle. The deal would make BofA a dominant player in Chicago for the first time. BofA has less than 2 percent of deposits in the market now, according to Federal Deposit Insurance Corp. reports.

BofA has added 56 branches in Chicago in the past four years. With the LaSalle deal, BofA will get 411 branches in the LaSalle network, 17,000 commercial bank clients, 1.4 million retail customers and 1,500 ATMs in the Chicago area, Michigan and Indiana.

It also will mark BofA's retail-branch entry in Michigan, where it will have 264 banking offices and be the largest bank, with a 23 percent deposit market share. LaSalle also has six branches in Indiana.

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