Lloyds TSB approves HBOS takeover

gozomark

Lloyds TSB says 96 percent of investors approve its takeover of HBOS. Almost 97 percent back resolution to issue new shares for fundraising

rash.m2k

What does this mean??

A good time to buy Hbos shares????

SouthCoast

Yet again the savers are the losers.

rash.m2k

SouthCoast wrote: »

Yet again the savers are the losers.

I dont mean to be rude but if you have some knowledge please share it.

gozomark

A good time to buy Hbos shares????

if they are below the takeover/merger ratio, then relative to buying Lloyd TSB, yes.

Other than that, you are buying LloydsTSBHBOS (or whatever it will be called) shares whether you buy what is now called Lloyds TSB shares or buy HBOS shares

rash.m2k

gozomark wrote: »

A good time to buy Hbos shares????

if they are below the takeover/merger ratio, then relative to buying Lloyd TSB, yes.

Other than that, you are buying LloydsTSBHBOS (or whatever it will be called) shares whether you buy what is now called Lloyds TSB shares or buy HBOS shares

But what if HBOS share holders vote no in Dec? What will happen then?

alchemistkevin

The result is very surprising, a lot of ppl and the press were saying it's not a favourable deal for Lloyds, guess the majority of the shareholders think otherwise.

StevieJ

rash.m2k wrote: »

I dont mean to be rude but if you have some knowledge please share it.

What do you mean? never heard of competiton? and what a lack of it means.

Neil_G_2

Just to join this conversation, I work on behalf of Lloyds TSBwe have updated the proposed HBOS acquisition section of our website, here: www.lloydstsb.com/hbosacquisition. Live today is information that covers the shareholder meeting. Neil.

Old_Slaphead

StevieJ wrote: »

What do you mean? never heard of competiton? and what a lack of it means.

You don't think that some of the efficiencies gained re. reduction of job & branch duplication will be passed in the form of more competitive rates then?

opinions4u

rash.m2k wrote: »

But what if HBOS share holders vote no in Dec? What will happen then?

They will probably lose what little value is left in their shareholdings as the government would be forced to nationalise the business.

EU rules would then require a wind down in lending activity (and other acquisition of customers) which would effectively mean less competition anyway.

Customers would be priced out to other providers.

More jobs would end up being lost than the merger with Lloyds would lead to.