HBOS takeover approved by court
12/01/2009 - 16:52:44The formation of a UK “super bank” was rubber-stamped today with a court giving its approval for Lloyds TSB’s takeover of HBOS.
The Court of Session in Edinburgh gave the green light to the deal after a legal hearing lasting all day.
The move came after shareholders of the two banking giants voted before Christmas in favour of the tie-up.
Meanwhile, both banks confirmed today that taxpayers are set to own almost half of the new bank created from the takeover.
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