Pensioenfonds ABP and PGGM, Amsterdam, Netherlands, won their bid to acquire De Nationale Investeringsbank after raising their joint bid twice. The Dutch funds raised their initial bid of 66 guilders ($31.94) to 70 guilders, and then again to 72.50 guilders, as key minority shareholders held out for a higher offer. Holdouts ING Groep, with 20% of NIBs stock; Fortis, with a 5% stake; and ASR, with 7%, agreed to tender their shares. In total, ABP and PGGM garnered control of 99.6% of NIBs shares. The initial bid had secured only 65.8% of the investment banks stock, below the target level of 75%. Announcements on integrating ABP and PGGM private equity and structured finance staff into NIB are expected in coming weeks.