LloydsTsb/HBOS Merger?

Robinmsa

According to recent news, another European Group, may be interested, but as far as I'm aware no further details have come out.

DocProc

It's Jim Spowart, who founded HBOS’s Internet bank "Intelligent Finance", who is attempting to piece together a bid for the banking giant.

More at http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5062748.ece

I think the Scots would prefer their businesses to be owned by themselves rather than the English.

Without LLoyds TSB agreeing to take it over it might well have failed. Then the assets would have been sold off to the highest bidders and most probably, without any care whatsoever for Scottish jobs.

Stand by for some massive HBOS related write downs in the £billions. Indeed, the article in the link above, says these might be as big as £10billion and made by Lloyds TSB in January after it has taken them over.

It looks to me like the Arabs are eyeing our banks over. What with the stake taken in Barclays and the PM over there for a few days chatting with them.

And of course, HM Government are getting a bit stretched, aren't they?

If this deal with HBOS and Lloyds TSB doesn't go ahead, then someone now will probably rescue the HBOS Group anyway, and Lloyds TSB's shares will leap upwards on the news.

I would think HBOS and Lloyds TSB's shares, and the shares of the banking sector in general, will go up on Monday on the strength of this stuff, anyway.

Robinmsa

I've just found a couple of articles on the BBC's website, they were both written by Robert Peston and interestingly seem to read a little better for the LLoydsTsb shareholder.

http://www.bbc.co.uk/blogs/thereporters/robertpeston/

The other was also written by Robert Peston on 15 October 2008.

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/10/bank_dividends.html

And if I've read them correctly, then as the small £4,000,000,000 preference shares are repaid, by as soon as next year, with 12% interest, we could start to recieve further dividends?

Interesting!!!

ad44downey

12% interest, it's a farce. Lloyds need top pull out of this quick.

SCN_3

There has been no decision on the brand names for either LTSB or HBOS as yet and won't be until it's all gone through, apparently.

The new name will be the Lloyds Banking Group

sabretoothtigger

Can lloyds and hbos make 4bn in profit over the next year to pay off those pref shares, that would be impressive in this market.

Their combined profits in 2007 would have more then done it but their last half year profits combined were 1.4bn which I presume includes writedowns and I guess there is more to come

ad44downey wrote: »

12% interest, it's a farce. Lloyds need top pull out of this quick.

Hbos were advertising a regular savings rate of 10% to customers werent they

Neil_G_2

Following today’s news we have updated the news pages of the Lloyds TSB site that cover the proposed HBOS acquisition. These can be found at: www.lloydstsb.com/hbosacquisition. The site has a Q&A section which gives an overview of the latest situation. Neil, on behalf of Lloyds TSB.

Robinmsa

Received my voting pack, goodness it's thick, LoL. Still I s'pose it's all in there. I shall have a read later, then I think the recycling bins will be filling...