A group lead by the Royal Bank of Scotland has offered $95.5 billion for ABN Amro (ABN), 14% more than a bid from Barclays (BCS).. While it is hard to imagine that the bank is worth that much more, it is also hard to imagine another offer that will top this one.

The bid has as a condition that ABN’s LaSalle bank will not be sold to Bank of America (BAC).

The three banks in the consortium would split ABN into pieces and each take the part most suited to its business.

Douglas A. McIntyre.