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Lloyds TSB shareholders vote through HBOS merger

Finally it seems as though the Lloyds TSB and HBOS merger is going to go through with news that the majority of Lloyds shareholders have voted in favour of the move. This now leaves the HBOS shareholders to play their part and vote on the issue, although with very little firm choices on the table it seems to be a foregone conclusion.

There was some concern at the meeting with regard to possible job losses at both Lloyds TSB and HBOS although it is believed that the management is already in discussions with the unions about the possible outcome. It will be interesting to see exactly how the HBOS vote goes and what comments are made by both institutional and private client shareholders. The potential deal with a set of Scottish entrepreneurs looks to be dead in the water after the government suggested that terms for the rescue package would be renegotiated on less favourable terms if a new offer came in for the company.

It is getting towards a situation that all parties involved now want the future of HBOS to be clarified as soon as possible so they can get back to work and concentrate on building up the strength of the combined operation.

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