HBOS

[Ecosseven]

I notice that HBOS are still listed on the stock exchange. Does anyone know when the LTSB / HBOS merger actually takes place?

Are they worth a punt at current prices? (142p at last nights close)

Cheers.

[speedy_thrills]

Don't the shareholders get a say first?

Edited by speedy_thrills on Tuesday 30th September 05:50

[NoelWatson]

speedy_thrills said:

Don't the shareholders get a say first?

Edited by speedy_thrills on Tuesday 30th September 05:50

Yes. I can't see why anyone will vote yes

[anonymous-user]

Think it's going to take a few months IIRC

[voyds9]

End of 2008, start of 2009

At a share price of 232p

[speedy_thrills]

voyds9 said:

End of 2008, start of 2009

At a share price of 232p

So currently 125p means the market thinks that it'll get rejected?

[Jonc]

No, there is no set price, it will be 0.83 of Lloyds share price when the deal completes.

[speedy_thrills]

Jonc said:

No, there is no set price, it will be 0.83 of Lloyds share price when the deal completes.

So off the back of a fag packet at the moment it should be 180p if it was certain and the difference represents the chance of shareholders wanting to play it safe or not thinking its good value for money?

[NoelWatson]

speedy_thrills said:

Jonc said:

No, there is no set price, it will be 0.83 of Lloyds share price when the deal completes.

So off the back of a fag packet at the moment it should be 180p if it was certain and the difference represents the chance of shareholders wanting to play it safe or not thinking its good value for money?

There is a fairly substantial gap between the two on the CDS markets (around 70bps) which is pleasing

[Lois22]

voyds9 said:

End of 2008, start of 2009

At a share price of 232p

You got the same letter as me then?!

[Welshbeef]

Lois22 said:

voyds9 said:

End of 2008, start of 2009

At a share price of 232p

You got the same letter as me then?!

+2

[zcacogp]

Welshbeef said:

Lois22 said:

voyds9 said:

End of 2008, start of 2009

At a share price of 232p

You got the same letter as me then?!

+2

+3. But I am also confused - if it has been sold, how can the shares still be traded? Or am I being really thick?


Oli.

[Lois22]

It was the same as when halifax merged with BoS, you got a % of the shared traded in, and a smaller number of shares in the new HBoS (I think, it was a while ago!)

[speedy_thrills]

It's not sold though is it? Anyone want to dig out their letter and scan it?

[Lois22]

It's at my other house, might be there this afternoon if no one else does it before hand.

[Marf]

zcacogp said:

Welshbeef said:

Lois22 said:

voyds9 said:

End of 2008, start of 2009

At a share price of 232p

You got the same letter as me then?!

+2

+3. But I am also confused - if it has been sold, how can the shares still be traded? Or am I being really thick?


Oli.

Its not sold, at this stage all HBOS have agreed to do is put forward the proposal made by Lloyds to their shareholders and recomend they accept it.

Once shareholders representing, in this case, 75% of the issued share capital of HBOS accept the offer, it will be declared unconditional.

Lloyds will then apply for the delisting of HBOS from the LSE, start the process of compulsorily acquiring the remaining HBOS shares and issue new Lloyds shares to those who have accepted the offer.

[beano500]

I thought I caught an analyst, yesterday, suggesting that the deal might not go through. Although I can't find that now.

Was I dreaming? Anyone else see this?

[speedy_thrills]

Is there no gap between the rejection and going into recievership?

[trooperiziz]

beano500 said:

I thought I caught an analyst

I did! I did caught an analyst!

[Fittster]

Could an ex-building society re-mutualise?