facebook-page-view
Advertisement

Lloyds Set To Acquire HBOS; Morgan Stanley Entertains Suitors

By Madhav A Chanchani

  • 18 Sep 2008

Well those of you who thought it was over, there is more to come. Morgan Stanley, one of the two independent investment banks on the Wall Street, is in talks with various banks for a merger as the company stock continued to fall.

On the other hand British bank Lloyds TSB is set to takeover the country's largest home loan provider HBOS.

Morgan Stanley is said to be talking to a number of players including London-based bank HSBC, China's CITIC and US-based The stocks of Morgan Stanley have fallen 42% this week despite reporting a better quaterly result a day earlier than it was scheduled to.

Advertisement

In India, the securities firm's arm, Morgan Stanley Mauritius Company Ltd, sold stocks worth Rs 871 crore in a rash of block deals. This sale constitutes about 8.5% of its total holdings in India worth Rs 11,200 crore. The biggest deal that the firm has stuck was one in United Spirits for Rs 339 crore. What will Goldman Sachs, the only other independent investment bank, no do remains to be seen. Goldman Sachs shares fell by 18% on Wednesday.

 

Lloyds TSB To Acquire Mortgage Lender HBOS

Advertisement

On the other hand Lloyds TSB has agreed to acquire HBOS for $22 billion, according to

Advertisement

Share article on

Advertisement
Advertisement