ABN Amro to meet with Barclays rivals

London-based Barclays, the No. 3 U.K. bank, will hold exclusive talks for the rest of the week to buy ABN Amro. There can be no certainty that they will lead to a transaction or what form it will take, the companies said in a joint statement.
The Amsterdam-based bank said it will sit down with Royal Bank executives early next week.

ABN Amro is opening the door to a bidding competition two months after shareholder TCI Fund Management LLP said the biggest Dutch bank was significantly undervalued and called for a sale or break-up.
ABN Amro shares rose 33 percent in the past month to 36.40 euros, valuing it at 69.5 billion euros ($94.3 billion). Shareholders expect the board to pursue the best transaction - merger, sale or break-up - which will maximize shareholder value, TCI founder Christopher Hohn said in a statement. The Royal Bank approach makes it imperative that shareholders insist on an open and fair process, said Hohn.