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Lloyds TSB unveils HBOS takeover

By
Nishikant
on September 18, 2008 2:22 PM | | Comments (0) | TrackBacks (0)
Lloyds TSB has unveiled details of its £12.2bn takeover of HBOS, a deal it described as a "unique opportunity".

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The deal values shares in Halifax Bank of Scotland - the UK's biggest mortgage lender - at 232p each, and could lead to cost savings of £1bn a year. Lloyds confirmed jobs would be lost as a result, but played down claims that up to 40,000 staff faced the axe.

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