It ups the ante to $98.5 billion USD, a 13% increase overBarclays' bid. The offer is from a consortium led by London-basedRoyal Bank of Scotland PLC, Barclay's chief rival, and alsoincludes Belgium-based Fortis NV and Spain's Banco SantanderCentral Hispano SA.

It comes with conditions. The chief one is that Chicago-basedLaSalle Bank remain within ABN Amro. The Barclays' buyout proposalcalls for the sale of LaSalle to Bank of America for $21 million.On news of the consortium's counter offer, Charlotte, NC-based BofAissued a statement saying, "Bank of America has a legal contract toacquire ABN Amro North America Holding Company and expects thatcontract to be fulfilled under its current terms."

The rival consortium also calls for additional due diligence"based on no more information than received by Barclays and Bank ofAmerica." In a joint statement, the new bidders say they "would beable to complete this due diligence in a very short period oftime." The London-based Children's Investment Fund, a hedge fundthat owns nearly 3% of ABN stock and initially urged the bank toconsider a sale or merger, has called the newest offer"compelling."