It is good to be king - of the Chicago banking market that is. After agreeing to a $21 billion cash buyout by Bank of America Corp., LaSalle Bank Corp.'s parent company reportedly received a substantial competing bid of $98.1 billion from a consortium of banks led by the Royal Bank of Scotland.

News of the RBS group's bid for ABN Amro came weeks after it agreed to be bought out by Barclays, and as the banking industry was assessing the benefits of a union between LaSalle and Bank of America.

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