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Lloyds says no comment on report of HBOS deal renegotiation
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Posted 09 October 2008 @ 08:07 am GMT
Lloyds TSB on Thursday declined to comment on a press report that it is renegotiating the terms of its planned takeover of rival HBOS.
A Lloyds TSB branch in an undated file photo. IBTimes/Alan Channer
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HBOS profit up 3 percent as retail margins hitThe Daily Telegraph reported that Lloyds was seeking new terms for the deal, quoting unnamed sources as saying it was "inconceivable" the takeover could go ahead on the current terms following a steep fall in HBOS shares.
A Lloyds spokesperson declined to comment on the report, citing Takeover Panel rules.
Under the deal, announced on Sept 18, HBOS investors are to receive 0.83 Lloyds shares for every HBOS share they hold.
(Reporting by Myles Neligan; Editing by Hans Peters)
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