Shareholders in Lloyds TSB have approved the firm's takeover of HBoS by a resounding margin.
More than 95% of shareholders voted to back the deal at the firm’s annual general meeting today, with similar majorities backing the firm’s recapitalisation plans.
Eric Daniels, group chief executive of Lloyds TSB, said the firm was “very pleased” to have an endorsement from its shareholders for its strategy.
He continued: “We believe this transaction provides certainty for the shareholders of HBoS and they, along with the Lloyds TSB shareholders, will have the opportunity to share in the benefits that come from the combination. We remain on track to complete the proposed acquisition of HBOS in mid-January 2009.”
