Lloyds TSB acquirers HBOS the largest mortgage lender in Britain |
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Lloyds TSB Group Plc agreed to buy HBOS Plc for 12.2 billion pounds ($22.2 billion) after Britain's biggest mortgage lender lost half its market value in the past week, Gordon Browns government backed a deal and changed competition legislation to allow the merger. Lloyds TSB, the U.K.'s biggest provider of checking accounts, fell 3.5 percent today in London trading after saying it will pay 232 pence a share in stock for HBOS, 58 percent more than yesterday's closing price of 147.1. The
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