Dutch investors group calls for takeover code as court rejects ABN Amro inquiry

        AMSTERDAM (Thomson Financial) - Dutch shareholders association VEB called on
Thursday for a takeover code to be introduced in the Netherlands after an
Amsterdam commercial court rejected its request for an inquiry into ABN Amro
Holding NV's management.
    The VEB said takeover situations should be made more transparent, more
predictable and fairer, adding it will unveil concrete proposals for a takeover
code next week.
    The association was responding after the Enterprise Chamber of the Amsterdam
Court of Appeals rejected on Thursday a request from the VEB and Dutch unions to
conduct an investigation into ABN Amro's management and its actions last year in
the takeover battle for the Dutch bank.
    In a separate statement after the Amsterdam court's ruling, trade union FNV
Bondgenoten said it will consider lodging an appeal against the ruling. 
    The VEB had been opposed to ABN Amro's decision to enter into exclusive
merger talks with Barclays PLC and the announced sale of its LaSalle unit to
Bank of America Corp., while the FNV said the aim of its legal challenge was to
prevent the interests of workers being unnecessarily damaged.
    ABN Amro was eventually acquired last year by a consortium of three banks
including Royal Bank of Scotland Group, Fortis NV and Santander SA.
Aaron Gray-Block; aaron.gray-block@thomsonreuters.com
agb/am

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