Sale To Bank of America
On April 23, 2007, ABN AMRO announced the sale of LaSalle Bank Corporation to Bank of America for USD 21 Billion, and a net sale of USD 16 Billion after the return of USD 5 billion in excess capital. The sale was legally challenged as ABN AMRO did not seek higher bids from other potential purchasers, but it was ultimately cleared by the Dutch Supreme Court. Bank of America officially took over the bank on 1 October 2007.
LaSalle Bank Midwest began doing business under the Bank of America brand on May 5, 2008. Bank of America executive Kieth Cockrell, who had begun his banking career in Michigan, was appointed president of Bank of America's Michigan operations whose legal name at the time was LaSalle Bank Midwest N.A. while doing business as Bank of America. The legal name changed on 17 October.
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