Malinga the Swinga Posted November 2, 2008 Share Posted November 2, 2008 With the goverment seemingly determined to push through LLoyds bank takeover of HBOS, will they stop to consider the 2 new bids fro HBOS from foreign banks that are supposed to be on table, or will they just carry on and let deal go through. Also, will Scots secretary resign for leaking confidential information on rival bids to media, in a bid to try and stop them, or will he be rewarded for his 'crime' by Mr Brown, Mr Darling and Mrs Mandelson. Link to comment Share on other sites More sharing options...
systemx Posted November 2, 2008 Share Posted November 2, 2008 SUPPOSED you said it Link to comment Share on other sites More sharing options...
davemclaren Posted November 8, 2008 Share Posted November 8, 2008 No new bids but seems to be plenty of last minute resistance. http://news.bbc.co.uk/1/hi/business/7716675.stm Link to comment Share on other sites More sharing options...
Boaby Ewing Posted November 8, 2008 Share Posted November 8, 2008 No new bids but seems to be plenty of last minute resistance. http://news.bbc.co.uk/1/hi/business/7716675.stm Brown will make sure it goes through. mod delete Link to comment Share on other sites More sharing options...
Das Root Posted November 8, 2008 Share Posted November 8, 2008 Intelligent Finance were meant to be serious in putting together a bid for HBOS, they have confirmed they have spoken the Scot Sec and he has confirmed this too. Brown is just looking to get rid of the BoS to undermine Scotland's financial system. The new combined group would be called 'The Lloyd's Group' I believe so BoS will completely cease to exist, many branch closures and job cuts around the 30-50,000 mark...with most in Scotland, given all the BoS branches in the vicinity of a Lloyd's will go. Link to comment Share on other sites More sharing options...
davemclaren Posted November 8, 2008 Share Posted November 8, 2008 Intelligent Finance were meant to be serious in putting together a bid for HBOS, they have confirmed they have spoken the Scot Sec and he has confirmed this too. Brown is just looking to get rid of the BoS to undermine Scotland's financial system. The new combined group would be called 'The Lloyd's Group' I believe so BoS will completely cease to exist, many branch closures and job cuts around the 30-50,000 mark...with most in Scotland, given all the BoS branches in the vicinity of a Lloyd's will go. Intelligent Finance is part of the HBOS group so it can't be them. I would hope that Lloyds would keep the BOS brand for their Scottish branches but we will see. Link to comment Share on other sites More sharing options...
Das Root Posted November 8, 2008 Share Posted November 8, 2008 Intelligent Finance is part of the HBOS group so it can't be them. I would hope that Lloyds would keep the BOS brand for their Scottish branches but we will see. Ah yes, it's the guy who created IF, Jim Spowart. He left after HBOS took them over. So not IF buying, but Spowart putting together the bid. Link to comment Share on other sites More sharing options...
Malinga the Swinga Posted November 8, 2008 Author Share Posted November 8, 2008 If I heard correctly on the radio, the current HBOS board have thrown out attempt to get rid of Hornby and bring in Burt and ex RBS man. Apparently, the board say it won't provide any value to them or shareholders. Basically, this deal looks like going through, no matter of anyone else offers a better deal or not as Brown and his corrupt cronies have set their minds on it. Hornby has been bought by LLoyds for ?60k a month, and if anyone thinks he will risk losing that, they must be joking. Another example of Labour sleaze looking after London jobs to the detriment of anywhere, not just Scotland. Link to comment Share on other sites More sharing options...
davemclaren Posted November 8, 2008 Share Posted November 8, 2008 If I heard correctly on the radio, the current HBOS board have thrown out attempt to get rid of Hornby and bring in Burt and ex RBS man. Apparently, the board say it won't provide any value to them or shareholders. Basically, this deal looks like going through, no matter of anyone else offers a better deal or not as Brown and his corrupt cronies have set their minds on it. Hornby has been bought by LLoyds for ?60k a month, and if anyone thinks he will risk losing that, they must be joking. Another example of Labour sleaze looking after London jobs to the detriment of anywhere, not just Scotland. There is no other bid at present. Unless one materialises then it will happen and it's got nothing to do with Hornby getting ?60k a month as a consultant Link to comment Share on other sites More sharing options...
Rick Grimes Posted November 8, 2008 Share Posted November 8, 2008 There is no other bid at present. Unless one materialises then it will happen and it's got nothing to do with Hornby getting ?60k a month as a consultant the main point is that, given the size of the stakes the govt is taking in the banks now, there's no need for a takeover. Link to comment Share on other sites More sharing options...
Sheriff Fatman Posted November 9, 2008 Share Posted November 9, 2008 Ah yes, it's the guy who created IF, Jim Spowart. He left after HBOS took them over. So not IF buying, but Spowart putting together the bid. It was always part of the Halifax, Jim Spowart was just in charge of that division. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted November 9, 2008 Share Posted November 9, 2008 All boards are duty bound to act in the best interests of shareholders so if a counter-bid emerges, they have to look at it. What Burt and Mathewson have said is true in that the bail-out terms mean that the merger doesn't have to go ahead. The fact of the matter is though is that even with government money, HBOS is a 'dead man walking'. There will be major job losses in Edinburgh and Halifax, irrespective of who owns the company. Link to comment Share on other sites More sharing options...
davemclaren Posted November 18, 2008 Share Posted November 18, 2008 LTSB votes on it tomorrow ( Wednesday ). Can't see it not happening now. Link to comment Share on other sites More sharing options...
mac Posted November 19, 2008 Share Posted November 19, 2008 Lifted from the replies part of the article in The Scotsman re HBOS shambles: "Bail-out for Northern Rock (English jobs) - London government says yes, no problem, how much. Bail-out for Bradford & Bingley (English jobs) - London government says yes, no problem, how much. Bail-out for Lloyds TSB (English jobs) - London government says yes, no problem, how much. Bail-out for HBOS (Scottish jobs) - London government says no, no chance, **** off." This is kind of pushing me away from the Unionistas, towards the CyberNats. Link to comment Share on other sites More sharing options...
Kev79 Posted November 19, 2008 Share Posted November 19, 2008 It was always part of the Halifax, Jim Spowart was just in charge of that division. Correct and for your info the guy is a jambo. Link to comment Share on other sites More sharing options...
Jambo83 Posted November 19, 2008 Share Posted November 19, 2008 Correct and for your info the guy is a jambo. He also left IF because he didn't like the way it was going. I would trust him over Andy Hornby or Eric Daniels any day. Link to comment Share on other sites More sharing options...
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