Amsterdam : Fortis, the Royal Bank of Scotland and Santander Central Hispano SA officially placed a bid on Dutch bank ABN Amro for 71.1 billion euros ($92.43 billion), the three banks announced Tuesday.
This equals 38.40 euros ($49.92) per share.
The banking consortium is willing to pay 79 percent in cash.
The banks say their bid depends on ABN Amro's American subdivision LaSalle. The American offshoot was sold to Bank of America, but a court case about the sale is still undecided.
Under terms of the deal, RBS pays 27.2 billion euros ($35.36 billion) of the total. Fortis pays 24 billion euros ($31.2 billion), while Santander is responsible for the remaining 19.9 billion euros ($24.83 billion).
The part of each share paid in cash amounts to 30.40 euros per share. Each ABN Amro share equals 0.844 of a share of RBS.