Lloyds TSB and HBOS deal is as ‘good as done’

After 96 percent of Lloyds TSB (LON:LLOY) shareholders voted yes to the HBOS (LON:HBOS) takeover analysts are now predicting the deal will go ahead and it’s as ‘good as done’.

The deal has caused huge speculation over the last few weeks about whether shareholders of both HBOS and Lloyds TSB would back the deal, knowing that it will lead to inevitable job cuts.

But due to the overwhelming approval by Lloyd’s shareholders at the meeting held yesterday in Glasgow, analysts are convinced the deal will go ahead.

HBOS shareholders will be voting at the general meeting on December 12, this being the final hurdle to allow the merger to go ahead, with a good percentage of HBOS shareholders also being Lloyds TSB shareholders analysts say that this also increases the chances that the vote will be in favour of the deal.

Source: Scotsman