Dutch ABN AMRO is to acquire the American business bank MICHIGAN NATIONAL CORPORATION (balance sheet total $116 billion with 184 agencies, 3,600 employed and 350,000 clients) from Australian group NATIONAL AUSTRIA BANK for the sum of $2.75 billion. ABN AMRO plans to merge the US bank with its subsidiary STANDARD FEDERAL BANCORPORATION into a new entity called ABN AMRO NORTH AMERICA.