Lloyds TSB Deal With HBOS Collapses

16
Found 12th Oct 2008
Lloyds TSB negotiations to takeover HBOS have collapsed, according to Sky sources.

Lloyds had agreed to pay £9.8bn for its rival but there were fears it was paying too much because HBOS shares have plunged.

The Government had encouraged the takeover and had promised to change the law to allow the deal.

But Britain's biggest mortgage provider insists the buyout is still on.

"The deal remains in place and is on track," said Shane O'Riordain, general manager of group communications for HBOS.

He declined to comment on whether the terms of the deal could be renegotiated, following reports that both banks are expected to obtain capital from the government.

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16 Comments

ah well, guess they are trying to cause a big panic to push the price down further

massmail666;3178854

Lloyds tsb are just trying to get it cheaper by scaring the market and … Lloyds tsb are just trying to get it cheaper by scaring the market and making shares in HBOS fall.



Agreed, however stockbroker's ain't the smartest people......................so lets just see how far the shares will fall;-)

Right, I think sky news a few weeks back said that this deal was done. Its scaremongering at its best. dont read too much into it because Sky news is like BBC news on cocaine.

This kind of news does nothing but put worry into people, let it sort itself out. The media is costing the country billions by reporting in this way.

Sloth/Mod

fox2020;3178912

Agreed, however stockbroker's ain't the smartest … Agreed, however stockbroker's ain't the smartest people......................so lets just see how far the shares will fall;-)



They are about as smart as male models.:-D

Original Poster

Syzable;3179008

They are about as smart as male models.:-D


Who like to think they're 21:-D?

Fifteen going on Twenty Three son!

In other news as a customer of HBOS (well BOS really) I don't care as it'll resolve itself eventually.

Original Poster

abomination;3179031

Fifteen going on Twenty Three son!In other news as a customer of HBOS … Fifteen going on Twenty Three son!In other news as a customer of HBOS (well BOS really) I don't care as it'll resolve itself eventually.


Me either and I'm with both.

For the deal to go ahead will require the government to relax the rules against monopolies (not the games t0mm...) which is totally against what the public want! Less banks = less competition = worse off customers

Syzable;3179008

They are about as smart as male models.:-D



Harsh but true;-)

Robotochan;3179285

For the deal to go ahead will require the government to relax the rules … For the deal to go ahead will require the government to relax the rules against monopolies (not the games t0mm...) which is totally against what the public want! Less banks = less competition = worse off customers



Less profit but a more stable economy ;-)

Let the failing banks fail, we can't keep bailing them out. Survival of the fittest and all that!

fox2020;3179327

Less profit but a more stable economy ;-)



Well they would be making more profit if they joined as they plan on slashing HBOS's workforce which is not the best thing, especially for the Rosyth/Dunfermline area where they are one of the biggest employers along with Sky and Babcock

abomination;3179335

Let the failing banks fail, we can't keep bailing them out. Survival of … Let the failing banks fail, we can't keep bailing them out. Survival of the fittest and all that!



ironically enough the last time there was a crisis as big as the current one, ww2 followed.

Can someone on here please explain? I hold 2000 HBOS shares bought at 150p ... With all this going on what to expect with the share prices ... ? I am aware they are going to nose dive but if the government take stake in these banks are the share prices expected to recover in any near future to the the same level ... In short can expect any returns from my investment ... I know very few would say yes but still thought of asking it ... Very anxious & worried as i have made a wrong decision in buying these dodgy shares ... Any comments would be appreciated ...

SanjayShetty;3179497

Can someone on here please explain? I hold 2000 HBOS shares bought at … Can someone on here please explain? I hold 2000 HBOS shares bought at 150p ... With all this going on what to expect with the share prices ... ? I am aware they are going to nose dive but if the government take stake in these banks are the share prices expected to recover in any near future to the the same level ... In short can expect any returns from my investment ... I know very few would say yes but still thought of asking it ... Very anxious & worried as i have made a wrong decision in buying these dodgy shares ... Any comments would be appreciated ...



From what i read some where
"If the deal goes ahead, HBOS shareholders are set to be given new Lloyds shares worth 232p for each HBOS share, a huge fall in value from the £10 a share HBOS was trading at 18 months ago, but still better than the worst case scenario of being wiped out.
Under the terms of the deal, which must be agreed by investors, HBOS shareholders will receive 0.83 Lloyds' shares for every HBOS share."
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