Lloyds TSB takes over HBOS

UK banking giant Lloyds TSB today announced a £12.2bn (€15.5bn) takeover of rival Halifax Bank of Scotland.

Lloyds TSB takes over HBOS
Thu, 18 Sep, 2008 - 08:06

UK banking giant Lloyds TSB today announced a £12.2bn (€15.5bn) takeover of rival Halifax Bank of Scotland.

Yesterday HBOS, whose share price plunged by as much as 70% this week amid funding worries, confirmed it was in “advanced talks” over a merger that would create a £30bn (€38bn) banking giant with nearly a third of the UK mortgage market.

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CourtsBusinessHBOS takeoverPlace: UKPlace: USPlace: LondonPlace: IrelandPlace: GermanyPerson: ChairmanPerson: Victor BlankPerson: Prime Minister Gordon BrownPerson: LehmanOrganisation: Lloyds TSBOrganisation: HBOSOrganisation: Halifax BankOrganisation: ScotlandOrganisation: Halifax Bank of ScotlandOrganisation: British GovernmentOrganisation: UK TreasuryOrganisation: Financial Services AuthorityOrganisation: FSAOrganisation: Lehman BrothersOrganisation: AIGOrganisation: Wall StreetOrganisation: CheltenhamOrganisation: GloucesterOrganisation: Cheltenham & GloucesterOrganisation: LloydsOrganisation: Dresdner BankOrganisation: AllianzOrganisation: BarclaysOrganisation: HalifaxOrganisation: Bank of Scotland
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