Lloyds TSB could take over Halifax Bank of Scotland
It’s been reported today that Lloyds TSB are in talks with Halifax Bank of Scotland (HBOS) regarding a possible takeover.
According to the BBC website the deal could be worth an estimated £30 billion and could help strengthen HBOS shares which have taken a hammering over the last few months and particularly since the colapse of investment bank Lehman Brothers on Monday of this week.
Lehmans was the 4th largest US investment bank.
>> Click here to watch the full BBC report by Robert Peston >>
The deal is being backed by the prime minister Gordon Brown and the Financial Services Authority because it would be seen as a strengthening of the UK banking sector, which in the current economic climate can only be a good thing - especially for Gordon Brown!