Financial News is reporting that shares in ABN Amro have hit a six-year high due to a hedge fund demanding for two of the best-known names in Germany’s securities industry to be removed and it abandon acquisition plans.
UK fund, The Children’s Investment Fund Management, called for shareholders to vote against the bank making acquisitions, and pursue a sale the proceeds of which would be returned to the shareholders.
ABN Amro’s share price rose 5.4 percent to €27.32.