An artefact of the boom times
Here’s a treat for you. The Financial Times (hi Alphaville!) has an archive of stories from back in the good ol’ days of 2007, when Barclays and RBS went to war - a good war, a just war, a war for synergies and cost savings, a war for the right to ABN Amro’s hand in marriage.
And at the time, FT columnist Lina Saigol presciently wrote:
_The RBS offer for ABN Amro is roughly €38 a share – equivalent to a premium of more than 70 per cent.
And we all know how well the AOL/Time Warner merger went.
In the end, the Scots won, with the help of the Spaniards and the Belgians, paying EUR 70 billion for the prize. A few people had doubts, but most people thought it was brilliant, coup of the decade, Fred’s a legend, let’s pay him hundreds of millions of dollars, it’ll be different this time…
[And we all know how well that went.
Relevant: Split Enz!