Lloyds TSB renegotiate HBOS takeover, as high street banks accept Ł17bn of government

Legal Beagles

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Lloyds TSB renegotiate HBOS takeover, as high street banks accept Ł17bn of government

13th October 2008, 08:40:AM

Lloyds TSB has renegotiated its agreed takeover of rival HBOS, it was revealed this morning.

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Tags: 419, bailout, bank, economy, government, hbos, lloyds, lloyds tsb, money, ock, recession, tsb, turmoil
redbus

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14th October 2008, 10:23:AM

Re: Lloyds TSB renegotiate HBOS takeover, as high street banks accept Ł17bn of govern

Thought I would switch over to this thread today. This bailout is slightly different to their Scottish neighbours. It is dependent on one deal being concluded first and that is the merger of LloydTSB and HBOS which will in all likelyhood take place December2008/January 2009. The chatter on the Stock Market at the moment is about whether the bank really want to government in for the long haul. Most do not, keep them in for the short term when the economy is going into recession and when things start to look better, pay the government off and get them out of the Bank.
I am sure that the market turmoil has some more turns to go and now investors are looking at HBOS and LLoyds in the same vein.
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