HBOS/Lloyds TSB merging

cheerfulcat

Don't worry too much, mossy. FWIW Sky is reporting the deal as done and dusted. EDIT - Peston confirms. Still an odd way to go about this business imo.

LucyTheDwarf

Well, your first 35k is safe... but who knows how long it'd take to get at it.

trulymiserable

i have significant debts to llyods therefore opened a websaver with halifax as an emergency fund so they couldnt touch it does this mean it will no longer be safe , should i stop using this my main bank natwest have a web saver also would i be better just to use that???

ian-d

Well, done and dusted, the government have helped create a super power in the UK banking sector...but well done to Lloyds for making the most of the opportunity in the present climate, they've got themselves a good deal there!

SilverScooby

Robert Peston's latest UPDATE 21:14:
"I can reveal that both boards have now agreed the takeover, which will be announced tomorrow morning. The price will be 232p per HBOS share in Lloyds shares.
That's a bit less than what both sides shook on 24 hours earlier. I am intrigued to find out how Lloyds managed to screw the price down a bit."
Any bets on what tomorrow's opening price will be? Bit down from 232 I guess to allow for uncertainty

esbo

fallen_angel_shelley wrote: »

i opened a student account with halifax a couple of weeks, can anyone tell me, if they do go under what would happen to the money in my student account, would i still be able to withdraw it or am i best using another account to have my student loan paid in to until things are a bit clearer?

Your debts wil be written off :rotfl:

esbo

competitionscafe wrote: »

Heard this one on BBC Radio 5:

Anglo Scottish Banking Organisation (ASBO)

I have been playing with Bank Of LLOyds and HalifaX of Scotland:-

BOLLOXS :rotfl::rotfl::rotfl:

Andreg

SilverScooby wrote: »

Robert Peston's latest UPDATE 21:14:
"I can reveal that both boards have now agreed the takeover, which will be announced tomorrow morning. The price will be 232p per HBOS share in Lloyds shares.
That's a bit less than what both sides shook on 24 hours earlier. I am intrigued to find out how Lloyds managed to screw the price down a bit."
Any bets on what tomorrow's opening price will be? Bit down from 232 I guess to allow for uncertainty

Lloyds paid well over the odds. Im betting the chairman had his arm twisted more than a little bit, and no doubt he'll be given plenty of government commissions and similar nice jobs in future, but he could have done a lot better for his own shareholders. At one point today HBOS was at 88p. JPMorgan got Bear Sterns for nothing!

Hungerdunger

SilverScooby wrote: »

Robert Peston's latest UPDATE 21:14:
"I can reveal that both boards have now agreed the takeover, which will be announced tomorrow morning. The price will be 232p per HBOS share in Lloyds shares.
That's a bit less than what both sides shook on 24 hours earlier. I am intrigued to find out how Lloyds managed to screw the price down a bit."

Am I missing something here? I thought that the boards could agree the takeover, but doesn't it have to go to the shareholders of HBoS for a vote? I doubt whether they would want to turn down this offer, but it could delay it by several weeks.

competitionscafe

interesting article:

Darkest day for Scottish banking as the Bank of Scotland faces its end
http://thescotsman.scotsman.com/latestnews/-Darkest-day-for-Scottish.4503252.jp

Useful info for HBOS and Lloyds savers, borrowers and shareholders:
Q&A: Lloyds TSB and HBOS merger
Mark Atherton explains what a merger of HBOS and Lloyds TSB would mean for each bank's savers, borrowers and shareholders: http://www.timesonline.co.uk/tol/money/savings/article4772325.ece