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Lloyds TSB takeover of HBOS on schedule for January
Lloyds TSB has said today it expects to take over HBOS in January.
But the move will only happen after shareholders have been given the chance to vote on the deal.
A circular on the takeover will be sent to Lloyds shareholders in the third week of November with a meeting to approve it expected to take place about two weeks later.
The aquisition of HBOS, which employs more than 6,000 people in Calderdale, should then go-ahead in the new year.
Attempts to block the proposed takeover were yesterday overwhelmingly rejected in a Commons vote. Scottish Nationalists had hoped to foil an order to set aside competition law, which effectively paves the way for a merger with Lloyds TSB.
First Minister Alex Salmond did not take part in the vote, leading to criticism from Liberal Democrats who support the SNP position.
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Saturday 11 February 2012
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