Lloyds expects to rubber stamp HBOS deal in January
In a move which may calm markets in the short term but still leave a window of doubt it has been confirmed that Lloyds Bank expect to clear the takeover of HBOS in January. A vote will be taken at a shareholders meeting which will also vote on the fund raising which has been covered in the press of late. So is this the end of the saga?
While this may not quite be the end of the doubt and controversy regarding the merger it will force those who have been so vocal in the press to put forward their own ideas. If the deal is voted through then that is the end of the story and there is very little they can do, but will we see a last minute surprise offer?
If nothing else, the recent rescue of an array of UK banks has shown that the Scottish government is currently powerless to implement its own fund raising or takeover and third party investors would struggle to raise the cash. This almost certainly leaves the door wide open for Lloyds Bank but there will no doubt be further twists in the tale before it is finally over.
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