Lloyds Bank and five of its former directors “emphatically reject” allegations they were bullied into taking over HBOS, their QC has told the high court. Lloyds announced the takeover of HBOS on 18 September 2008. The government eventually took a 43% stake in the enlarged Lloyds Banking Group, but it no longer owns any shares after selling its final tranche in May. Facebook Twitter Pinterest Lloyds took over HBOS in September 2008. She said it was the responsibility of investment banking advisers at Merrill Lynch, UBS and Citibank to ensure that information sent to Lloyds shareholders was correct.

Source: The Guardian October 20, 2017 15:30 UTC