Loyds to buy HBOS

[ace00]

You're adding supposition to unfounded rumour on top of something some hack heard in a pub last night.

Lets just wait for the facts eh?

*cough* ahem - facts:
Gordon Brown has intervened personally in attempts to rescue HBOS, Britain’s biggest savings bank, which is in talks to be acquired by Lloyds TSB.

[SandyDown]

*cough* ahem - facts:
Gordon Brown has intervened personally in attempts to rescue HBOS, Britain’s biggest savings bank, which is in talks to be acquired by Lloyds TSB.

you are an oracle ace

[lilelvis2000]

The government has also said it will over-rule any concerns that competition authorities may raise,

Joy!

You know with all this cash being thrown about...why not let the banks fail and give everyone a tax holiday this year?

Too much to ask?

[TimberWolf]

Joy!

You know with all this cash being thrown about...why not let the banks fail and give everyone a tax holiday this year?

Too much to ask?

I would be happy for the banks to fail as long as it meant money borrowed didn't need to be repaid as well as depositors money not being repaid.

[realityhack]

Btw - merger talks confirmed today - Directors meeting tonight to sanction deal.

[rootsnall]

Btw - merger talks confirmed today - Directors meeting tonight to sanction deal.

At what price ? Will I be chucking myself off Blackpool tower tonight ?

[realityhack]

At what price ? Will I be chucking myself off Blackpool tower tonight ?

No further comments allowed - both parties are refusing to disclose anything:

beyond confirming that discussions are ongoing.

[realityhack]

Bloomberg:

HBOS, down as much as 52 percent earlier in the day, recovered after the British Broadcasting Corp. reported that Lloyds was considering a takeover. The shares were down 2 percent at 178.3 pence at 1:41 p.m. in London.
Lloyds may pay less than 300 pence a share for HBOS, valuing an acquisition at no more than 15.8 billion pounds, said Ian Gordon, a London-based analyst at Exane BNP Paribas.
Lloyds rose as much as 18 percent and traded up 10 percent at 308.75 pence at 1:39 p.m., valuing the bank at 17.8 billion pounds. More than 62 million shares changed hands in the first two hours of trading, beating the daily average in the past three months, Bloomberg data show.

[rootsnall]

No further comments allowed - both parties are refusing to disclose anything:

Just read the BBC, they seem well informed on this ! I assume there is some decent value in the wider HBOS assets for the previously more sensible bank to take on all the dodgy stuff with it. Or have the government sweetened the deal to the point were we'll all be paying for it for years !?

[Moscow Mule]

Just read the BBC, they seem well informed on this ! I assume there is some decent value in the wider HBOS assets for the previously more sensible bank to take on all the dodgy stuff with it. Or have the government sweetened the deal to the point were we'll all be paying for it for years !?

The thing is, there's nothing "toxic" in their debt portfolio. There may be a few "dodgy" loans to UK borrowers but it's well documented that they don't have huge exposure to the US "proper nasty" sub-prime market.

And as to the BBC being well informed, that Robert Peston is a cheeky scamp and no mistake.