CHICAGO - Moving to bring its U.S. business mix more in line with that of its Dutch parent, ABN Amro North America Inc. said Wednesday that it had agreed to acquire the Chicago Corp. for $135 million in cash, or 1.5 times book value.

With Chicago Corp.'s investment banking capabilities and domestic depository activities, the unit can "become the 'universal bank' that ABN Amro is in Holland and Europe," said North America chairman and chief executive Harrison F. Tempest.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.