Government confirms just one HBOS bid on the table
The HBOS saga seems to go from what extreme to the other in a matter of hours with news that there are still only one serious bid on the table, that from Lloyds TSB. There had been suggestions of a counter offer from a Scottish led consortium but as yet nothing has appeared with suspicions that he bid may flounder after being revealed by the Scottish Secretary.
The actions of the Scottish Secretary have been called into question with a number of parties seriously concerned that confidential financial information was released without prior consent. There are suspicions that the UK government heavily favour the Lloyds TSB bid and have deliberately attempted to undermine any counter offer. If this is the case it could literally open a can of worms as there are shareholders involved on either side.
The longer the HBOS saga continues the more harm this could potentially do to the underlying operation which until recently was one of the U.K.'s strongest and fastest growing banks. Talk of bids, counter bids, government restrictions and competition issues are not helping the situation and the fact that HBOS is still struggling. The sooner the situation is resolved the better.
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