If everything had gone according to plan, Barclays executives would Thursday have been celebrating their successful acquisition of ABN Amro.

Instead, the closing date for its €60.7bn (£42.1bn) offer is an occasion to reflect on missed opportunities. Barring any last-minute drama, the RBS consortium – offering €70.3bn at Wednesday’s closing prices – will soon declare victory in the six-month battle for control of the Dutch banking group.