Incredibly Lloyds HBOS deal continues!

Of course one cannot really say that a deal is continuing when the price has been re-negotiated downwards by 27 per cent but the join-up of the banks seems to be continuing condemning LLoyds not only to nationalisation but almost certain death! The report from Sky News is linked here with the following comments provided at 1455 London Time:

• It seems I am of exactly the same opinion as many other people at the moment - why is Lloyds taking public money and still making this acquisition? Surely that can't be legal, let alone ethical?

  Posted By :Mike Report This

• as a shareholder of Lloyds this deal looks worse and worse---is this yet another example of atrocious management decisions? Lloyds were regarded as the best capitalised bank with the most prudent board only a few months ago--perhaps the mayhem of the past weeks has affected their collective judgement.

  Posted By :Stephen cole Report This

• If Lloyds TSB also requires government funding, can someone please explain how they can afford to buy HBOS, please? changing the law to allow the purchase in the first place was bad enough but for the tax payer to have to fund it for Lloyds as well?!?!?!

  Posted By :Di Report This

Good question from Mike, can any of this be legal and in accordance with Company Law and the Takeover Code? Things just get stranger and stranger - Where is the Parliamentary Opposition?