Friday, 12 December 2008

HBOS shareholders back takeover

This is a sad day for Scotland! Why? Because it is the day that Scotland lost one of its biggest historic icons! Today, HBOS shareholders voted to give the go-ahead for the Lloyds TSB takeover, plummeting HBOS shares down 22%! Lloyds shareholders had already backed the deal in November, and HBOS shareholders had been widely expected to follow suit, despite the vast amounts of people working for the bank and from various Trade Unions being very against the takeover. I congratulate the Merger Action Group (MAG) for making their points clear and, despite not succeeding, they managed to win public support and let people know why the UK government had acted wrongly.

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