Lloyds TSB to take over Halifax-Bank of Scotland

[colonel]

A super-bank on an American basis from the sounds of it; with Lloyds TSB paying 300p a share and not the present 100p a share.

It sounds like Scots branches of LTSB to be rebadged as Bank of Scotland; Cheltenham and Gloucester disappearing; and Halifax replacing them as the mortgage branding- but only when you walk into the branch. And as for Howard..............oh dear me.

[Trumpton]

Perhaps ALL the Banks should merge together? The way the current economic situation is right now this super merger might be their only salvation?

[Arginald Valleywater]

A bit baffling to say the least. HBOS has mega bucks on deposit and 25% of the mortgage market. The run on their shares is silly bugger dealers trying to boost their measly 7 figure bonuses. If HBOS was in trouble, a la Northern Rock ALL of the other major British banks would bail them out to avoid meltdown.

If this means LloydsTSB buys them at ?3 a share then great, I will make a few quid profit.

If it means the end of that smug twat and his equally annoying colleagues on Halifax adverts then their is a supreme beiing listening somewhere!!

[planeterotica]

I expect you will see more takeovers in the not to distant future as share prices drop it makes companies cheap to buy.

[colonel]

If you have any money invested at this time, you need to read widely.

But you really need to read this:

[colonel]

Or even:

[JonnyHungwell]

I think the Scots have a right to feel pretty pissed off by this. I was in Glasgow ovewr the last few days and there were some pretty angry people in the bars - they really do think they've been robbed.

[JonnyHungwell]

And as for the hedge funds and so-called short sellers in the stock market, I'd put the fuckers in prison. Their activities are morally dubious at best and borderline criminal - in fact the law needs to change ban them forever and seize their assets to bail out the ones they've 'robbed'.

[jeffhaskeft]

i thought hbos was like... 1 of the biggest banks around, infact much 'bigger' than lloyds
methinks something is afoot

[colonel]

It is bigger- it was also in deep long-term shit and would have defaulted to the tune of ?150m next summer had the credit crunch continued- hence this deal.