ABN Amro is trying to persuade shareholders that their rejection of a LaSalle bid (from a consortium of banks led by the Royal Bank of Scotland) was a good idea.

The bid came after a mutually agreed upon sale of LaSalle Bank from ABN to Bank of America was stalled by the courts. The RBS led bank allies made a hostile mostly-cash bid that appeared to be 10% greater than BofA's bid.

ABN claims there is little clarity in the RBS bid, and the bank has yet to provide details on where the financing would come from. However, the decision will ultimately be the shareholders'.

ABN Amro has launched a charm offensive to try to convince shareholders that it was right to reject a $24.5bn (€33.1bn) offer for LaSalle, its US subsidiary, LaSallefrom a European consortium led by Royal Bank of Scotland.

The move came as the consortium, which includes Santander of Spain and Fortis, the Belgo-Dutch group, maintained its silence about whether it will press ahead with a €71bn bid for the whole of ABN Amro.

(Continue reading this story on MSNBC)

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