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Lloyds TSB £12.2bn takeover of HBOS: Main points of the deal
THE £12.2bn takeover of HBOS has gone ahead.
Lloyds TSB announced its multi-billion pound takeover of Halifax Bank of Scotland this morning (Thursday).
The buyout is a rescue deal after HBOS shares plummeted.
The all-share deal will value HBOS shares at 232p each.
The new group will hold a third of the UK mortgage market.
The deal is the biggest of its kind in UK banking history
Lloyds chief executive Eric Daniels is expected to take the helm of the enlarged group. It is not known what post HBOS chief Andy Hornby will take.
Thousands of jobs could be at risk
Anxious wait for bank's workforce
Takeover clockwatch: Follow the developments
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Weather for Halifax
Saturday 11 February 2012
Today
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Temperature: -2 C to 0 C
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