It’s clear to me who will have the upper hand if the deal does go ahead even if the fact that the merged entity will be listed in London, headquartered in Amsterdam and regulated by the Dutch central bank ostensibly makes it look even-Stevens.
However, a joke doing the rounds in the market perfectly sums up the true situation. “You know how it’s become a custom in mergers for each bank to keep part of its name,” it goes.
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