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. Last Updated: 07/27/2016

Dutch Bank Bid




AMSTERDAM, Netherlands -- Europe's largest pension fund, ABP, and Dutch civil servants' pension fund PGGM swooped on De Nationale Investeringsbank NV on Thursday, launching a nearly 2 billion guilder bid that sent the bank's shares soaring 30 percent.


Holland's ABP and PGGM said they had offered 66 guilders per share of the niche investment bank in a move tied to the two biggest Dutch funds' investment strategy.


"The cash flow of these funds is enormous. And they cannot restrict themselves into being index buyers," said Herman Hintzen, an adviser for the funds at J.P. Morgan.