HBOS / LLO TSB Merger - Opinions

msianb

I'd always thought that the free shares we were given as staff were a benefit and not a prediction as to the future price :mad:

itsnothing

Im not sure, they are held for 3 years though aren't they and I just assumed if you left the company in that time you didn't get the shares?

Andreg

itsnothing wrote: »

I work in a halifax branch 3 doors down from lloyds, we wont be staying and im ever more annoyed as I just got promoted.... i WAS supposed to be starting my new role this monday coming well thats going to be called off now!
Do any halifax staff know what is going to happen with these new free shares we were just issued, going to have to say bye to those as well I guess! Your best point of contact is your union rep as we get updated quite a bit throughout the day (have been the last two days).

How do you know that its your branch that will be shut, rather than the Lloyds one?

You will get Lloyds shares to replace your Halifax shares - a few less Lloyds shares than you had Halifax. This was announced to the BBC tonight rather than through the proper channels for stock exchange announcements, and they havent yet said exactly how many Lloyds shares you will get.

Obe1

Andreg wrote: »

Another disastrous knee-jerk reaction from Gordon Brown and Alistair Darling.

wisbech_lad

Reminds me of a project I once worked on at TSB (before it was Lloyds) Task was to cut 20% of head office staff - which we did. The manoeuvring not to be on the project was amazing. I couldn't work out why, until someone pointed out that anyone that had time to do a project like that obviously wasn't busy enough to survive! Me, I would rather be the one with the axe... anyway, I was on contract.

BNB_2

I dont mean to sound off but if lloyds takes over HBOS does that mean people thast used HBOS will get shares. Bit like when Barclays took over the woowlich

Leon_W

BNB

No. HBOS is a PLC and therefore owned by its shareholders, not customers.

In this new superbank former HBOS shareholders will own 44% of the company and LloydsTSB shareholders 56%

Regards

Ian_Griffiths_Halifax

Talks have been going on for 6 weeks.

From Mortgage Solutions Intermediary publication.

Lloyds TSB has confirmed it started serious conversations about a merger with HBoS six weeks ago.

In a press conference today, Sir Victor Blank, chairman of Lloyds, said regular conversations had taken place with Andy Hornby, HBoS chief executive, for some time in the hope of a future merger, but begun in earnest around six weeks ago when it became apparent a deal could happen.
He said: “We started conversations six weeks ago, but we were concerned about sitting through hearings at the competition committee for the next nine to 12 months. We have been looking to combine for several years, and circumstances have now changed because of the market we are in."

Dan_1976

I must say I feel for the staff. Its always joe bloggs that pays.

After the worry and stress of having to leave FS I feel for you. However I am so glad I got out and I am sure you will all move on and in a few years have forgotten about this.

Lloyds and HBOS have timed this to perfection. Its stinks!

Just imagine, in 10-15 years we could have one bank, maybe longer. Then we will all have chips in our hand and the anti christ will appear! Some may know what I am on about, others may not, but this is not good for the public!

I am off to get my Che t_shirt, we need a revolution!!

minimike2

Hmmmm......funny how the days AFTER the deal is finalised, the FSA place a ban on short selling of financial stocks isnt it.

This stinks.