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Lloyds TSB shareholders vote in favour of HBOS takeover
Lloyds TSB shareholders have backed the proposed takeover of ailing rival HBOS.
The shareholders voted 95.98 per cent in favour of the controversial deal at the Lloyds TSB Group general meeting in Glasgow.
They also backed plans to raise a total of 5.5 billion through the issue of new shares and special preference shares to strengthen Lloyds' balance sheet.
Earlier unions staged a protest as shareholders prepared to vote.
Lloyds and HBOS employees are worried over thousands of possible job cuts if the merger goes ahead.
Members of the Unite union held the demonstration outside the Scottish Exhibition and Conference Centre in Glasgow, where the Lloyds shareholders were meeting.
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Weather for Halifax
Saturday 11 February 2012
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