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LloydsTSB Mulls Abbey Bid Intervention

News, 04 December 2000

Retail bank LloydsTSB may gatecrash the merger talks currently in train between Abbey National and the Bank of Scotland.

The board of LloydsTSB is believed to have met last night to discuss a possible hostile bid after Abbey and BoS moved closer to agreeing a £23 billion merger

The acquisition of Abbey by Lloyds would make it the largest UK mortgage lender and the third largest current account provider.

News source: Financial Times