The price of HBOS shares is falling like a stone. It is now at 59.10 pence, down more than 18% since the market opened this morning. Lloyds TSB is at 159.30 pence.
If you were a Lloyds TSB shareholder, would you agree to swap shares on the basis that one HBOS share equals 0.605 of a Lloyds TSB share? For that is the deal on offer. As Mr Spock would say, it doesn't compute.
So then, revise the terms of the offer? Well, they've already tried that and it does not appear to have worked.
But if the merger/takeover is abandoned, what future for HBOS?
No comments:
Post a Comment