HBOS decision to withdraw from a possible counterbid for Abbey paves the way for an £8.55bn agreed bid by Spain's Banco Santander, the FT writes.
The deal will create a major new banking force in the UK and becomes the biggest across EU borders involving banks, possible setting the sector up for significant consolidation throughout the union. Shareholders are to vote on 14 October; many will wonder why 580p per share is a good deal considering the banks stock once stood at £13. Analysts say HBOS’ decision was the right one from the point of view of its own shareholders, but some wonder what it means for the company’s growth plans, the FT notes. THE SCOTSMAN REPORTS on figures published by IFA Promotion showing savings as a r...
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