The talks about the fate of ABN’s US division LaSalle are being watched by the Dutch bank. A resolution would remove the major legal uncertainties surrounding the bidding war and allow it to put the RBS proposal side by side with a competing offer from Barclays in what would become a clean fight to be decided by shareholders.

ABN agreed to sell LaSalle to BoA for $21billion (£11billion) ahead of recommending a merger with Barclays. But LaSalle is one of the reasons why RBS, bidding in partnership with Spain’s Santander and Belguim’s Fortis, wants to own ABN.
It is believed that, under the deal being discussed by RBS and BoA, the Americans would buy LaSalle but then sell RBS some of LaSalle’s assets should the consortium succeed.

BoA believes it has a legally watertight contract to buy LaSalle and is prepared to defend it in the American courts. A Dutch court is to decide whether ABN shareholders will have the right to vote on the sale.