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M&G backs Lloyds takeover of HBOS

M&G, one of the largest shareholders of Lloyds TSB and HBOS, has announced it will back the Lloyds takeover on its current terms.

According to the Financial Times, M&G says it is stating its intention publicly to remove uncertainty about the deal and to help restore stability to the market.

There has been concern that Lloyds shareholders might demand that the takeover is renegotiated or abandoned, following falls in HBOS’s share price.

Shareholders will not vote on the takeover for several months.


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Sheriar Bradbury

Sheriar Bradbury was never destined to remain an employee of someone else’s company. As a child, he moved around the UK with his family as they pursued different business ideas and he grew up with no notion of employment.

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