FT.com / Companies / Financials – Lloyds TSB investors back HBOS rescue


Lloyds TSB investors have overwhelmingly backed the bank’s controversial rescue of HBOS and its plans to raise £5.5bn of capital despite some shareholders voicing concerns.

Several hundred investors gathered in Glasgow to hear Sir Victor Blank, Lloyds chairman, say the “landmark” deal would transform his bank, deliver £1.5bn of cost savings and create value for HBOS and Lloyds shareholders.

“For us, the opportunity to put Lloyds and HBOS together has been a long-standing ambition,” he said.

The vote to buy HBOS, backed by 96 per cent of investors, clears a major hurdle for the all-share takeover. Investors also backed a plan for Lloyds to raise capital through a government-backed placing. HBOS holds a vote for its investors on December 12

via FT.com / Companies / Financials – Lloyds TSB investors back HBOS rescue

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About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on November 20, 2008, in Bank Stocks, Financial Markets, Global, Investments, Meltdown and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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