A US regulator could delay the proposed Barclays’ €3.6 billion ($4.9bn) share buy-back unveiled Tuesday as part of the UK bank’s revised offer for ABN Amro, The Financial Times reports.
The timing depends on approval from the Securities and Exchange Commission, which Barclays hopes to receive this week after its results. But the SEC could require Barclays to postpone the buy-back until the offer for ABN closes or lapses, which could be October.
The SEC has restrictions on companies buying back shares until an offer has been declared unconditional.
ABN’s supervisory and executive boards are to meet on Friday to discuss the competing offers after dropping a recommendation for the Barclays bid while seeing how its shares performs.