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CHARLOTTE, N.C. (AP) - Focused intently on moving into Chicago and undeterred by the prospect of a trans-Atlantic legal fight, Bank of America Corp. sued ABN Amro on Friday to preserve its $21 billion deal to buy the Dutch company's LaSalle Bank Corp. subsidiary.
The move places Charlotte-based Bank of America in the middle of $100 billion takeover battle for ABN Amro between Britain's Barclays PLC and a three-bank consortium led by Royal Bank of Scotland PLC.
"(Bank of America) felt this is what they needed to do to protect their interests," said Carl Tobias, a law professor at the University of Richmond who specializes in business litigation. "Who knows how successful they are going to be? It's going to be difficult to sort everything out."
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