Pensioenfonds ABP and PGGM appear assured of winning their bid for De...

Pensioenfonds ABP and PGGM appear assured of winning their bid for De Nationale Investeringsbank as key shareholders agreed to tender their shares. ING Groep, with 20% of NIB’s stock, said it would sell its shares for 72.50 guilders ($35.38) each after the two Dutch pension funds increased their bid for a second time. Fortis, with a 5% stake, and ASR, with 7%, reportedly also agreed to tender their shares. The pension funds had set a target of winning 75% control of NIB, but managed to secure only 65.8%. The original bid, announced in December, was for 66 guilders. Last week, the bid was upped to 70 guilders, but was rejected by key shareholders. ING officials had said they were holding out for 75 guilders but today said the difference has narrowed sufficiently.