Dutch Pensioenfonds ABP and PGGM have come up short in their bid to take control of 75% of De Nationale Investeringsbank, despite use of strong-arm tactics against key minority shareholders. Marinus Keijzer, PGGMs chief economist and strategist, acknowledges using pressure tactics on Fortis Amev and ING Groep to tender their shares of NIB, a niche investment bank. Tactics included shrinking a 2 billion guilder-plus Dutch equity mandate run by Fortis by some 600 million guilders ($290 million) and reduced brokerage business directed to ING. "We are not engaged in open warfare but in giving off signals, he said. Press spokesmen at both Zeist-based PGGM and Herleen-based ABP denied using such tactics. Fortis and ING, together with ASR, rejected the pension funds 66 guilder ($31.88) per share offer for NIB, saying the price was too low. Collectively, the firms hold nearly one-third of NIBs stock. ABP and PGGM officials will announce on May 7 whether they will accept the shares that had been tendered, which would give them control of 65.8% of NIBs stock.