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.
Share this..
Related stories
Redrow seeks to start building homes again
After a period of significant unrest and a collapse in demand for UK homes it has been revealed that UK house builder Redrow will soon begin building again. Steve Morgan, the original owner of Redrow, who recently regained control after a boardroom coup, has revamped the company's strategy and announced a wish to take advantage of any recovery in 2010. This is by far the most positive sign we have...
Read MoreLoan rates on a constant rise
In today's world it's getting much harder take out a loan with a reasonable interest rate, statistics have shown that around 50% of people applying for a UK loan will be instantly rejected down to their previous credit rating, job history and other important deciding factors. This percentage has been on a constant rise, especially within the last 6 months as companies are trying to stay away from...
Read MoreServices sector slows in April
The UK services sector slowed unexpectedly in April with the Markit/CIPS services PMI activity index showing a fall from 56.5 in March to 55.3 in April. There appear to have been two main elements which caused the surprise fall, with analysts expecting a rise to 57.0, which were the transport mayhem caused by the volcanic ash cloud and concern about the UK election. The figure is the lowest since...
Read MoreDarling to fight Sarkozy on trade
Alistair Darling has made clear his opposition to French president Nicolas Sarkozy's protectionist impulses.Speaking in an interview with the Financial Times, Britain's new chancellor categorically set his stall in defence of the free-market values which the European Union has traditionally supported.Mr Sarkozy, while advocating internal free trade amid a raft of Thatcherite reforms, has made clea...
Read MoreConsumer borrowing at highest level since 2005
01/05/2015 British people borrowed more money in March then they have done before the 2008 financial crisis, according to figures from the Bank of England (BoE). The biggest rise came from unsecured borrowing, such as overdrafts and bank loans, which accounted for £1.1 billion of the overall £1.24 billion rise. Credit card lending increased by £200 million. In contrast, mortgage app...
Read More