Lloyds TSB and HBOS to merge

cifpower

Sky News is reporting that the deal has been confirmed and will be announced to the stock market at 7am tomorrow

Paul_Herring

TiggsJ wrote: »

Great that means lloyds bank charges hiked up to pay for this......

You pay 'bank charges'? I believe there's another board here for you. DWD possibly. :rolleyes:

msaquib

If they merge then what will happen to Intelligent Finance which is the online bank of Halifax?

Plasticman

bert&ernie wrote: »

What I want to know is how LTSB are going to fund this "takeover". Even at the rumored 200p per share, I doubt they can raise this sort of cash.

Maybe the answer is here...........

"In view of the current disorderly market conditions, the Bank of England is today announcing an extension of the drawdown period for its Special Liquidity Scheme,'' the London-based central bank said in a statement today. The program, which allows banks to swap securities damaged by the credit rout for government bonds, was due to end next month and will now run until Jan. 30

ffacoffipawb

The new Company's logo ....

Silicon

ffacoffipawb wrote: »

The new Company's logo ....

Shouldn't Howard & the horse be the other way round?

That reminds me - no more of his annoying ads. Yay! Something good has come of this

Anyone know what becomes of Halifax España? Got some money with them & haven't been able to find anything out...

[Deleted User]

If Halifax's cruddy customer service gets into the equation, Lloyds TSB will be losing my custom. They'd better tread carefully.

To put it another way, when you buy a box of disease, you've got to be careful not to get infected.

Halifax is a disease. Simple as that.

Kavanne

It's been agreed.. Does this mean my Halifax account is now going to become a Lloyds TSB account?

[Deleted User]

What I want to know is why someone from the AXA group has bought the domains lloydstsbhbos.com, lloydshbos.com, and so on...

mrposhman

bert&ernie wrote: »

HBOS shareholders may view the bank as undervalued because the deal they are going to be offered is a fait accompli. Once the news broke that HBOS was in negotiations with LTSB, this became the only option as backing out would have reduced confidence even further.

We'll have to wait and see what the offer is, but it looks like it will be forced through regardless. It will be interesting to see what HBOS's 2 million+ private investors make of it though.

The offers £2.32 per share, not bad based on todays closing share price of £1.47 having been as low as 88p per share.

As I've said, its OBVIOUS that HBOS are massively affected by the Lehman Bros administration and therefore their balance sheet is highly likely to be overvalued much like the subprime market. HBOS have clearly been mismanaged and are paying the price for it now.

So what about the private investors, did they challenge the companies dodgy investments when the boom times were running? Afraid it doesn't work 2 different ways like everyone wants it to be. if you support unscrupulous trading during the boom times and profit from it then, then you have to take it on the chin when it all comes crashing down.