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LloydsTSB-HBOS merger details + jobs and IT spend set to fall

The details of the proposed merger between LloydsTSB and Halifax Bank of Scotland (HBOS) were unveiled in a circular to shareholders on 3 November that revealed the group expects to save almost £1.5 bn per year by 2011, mainly by slashing IT costs, economies-of-scale savings from integration projects and cutting jobs, with some press reports suggesting 20,000 positions could go, largely from the retail division. The merger, which will create the UK’s biggest mortgage lender with a 29 per cent of the market and a similar number of current account holders, gained approval from the business secretary, Peter Mandelson, on 31 October when he confirmed he was setting aside anti-monopoly laws in the national interest of ensuring the survival of HBOS from the financial turmoil sweeping the globe.

Last ditch bid to block Lloyds TSB merger with HBOS launched

Scottish-based Merger Action Group (MAG) – made up of business people, bank customers and shareholders – is seeking a legal ruling from the Competition Appeal Tribunal that Lord Mandelson’s approval of the merger was unlawful.

Wells Fargo/Wachovia Merger on Schedule for Completion by End of 4th Quarter 2008

Wells Fargo’s merger with Wachovia to proceed as whole company transaction with all of Wachovia’s banking operations.

Last-ditch bid to halt HBOS-Lloyds merger

The merger of HBOS and Lloyds TSB was today described as a 'shotgun marriage' by one of the men behind a last-ditch bid to halt the move.

Snowmail: bank merger opposed

Two former bankers have written to HBOS rubbishing their merger with Lloyds, suggesting the men running HBOS resign and volunteering to do the jobs themselves.

Sanyo Panasonic Merger To Spur Consolidation

Two of the world's best-known consumer electronics brands, Sanyo and Panasonic, said on November 7 that they have entered into merger talks. Both Japanese companies have been struggling as they combat dwindling consumer demand and heavy competition in the country's overcrowded electronics sector. The pricing and the terms of the deal are expected to be announced by the end of the year; however, analysts are estimating that the deal could be worth around JPY862bn (US$8.8bn), representing an offer of JPY140 (US$1.43) per Sanyo share.

Sprint and Clearwire complete merger of 4G mobile WiMAX operations, receive previously announced $3.2bn investment

Sprint Nextel, created from a merger of the wireline service provider Sprint and wireless company Nextel in August 2005, now offers a comprehensive range of wireless and wireline products and services to consumer, business and government customers.

Australian bank merger clears last hurdle

A 14.2 billion dollar (9.1 billion US dollars) deal to create one of Australia's largest banks cleared the last hurdle Thursday when St George Bank shareholders approved a merger with Westpac. Skip related content

UPDATE 1-ABN, Fortis merger in Netherlands scrapped -report

AMSTERDAM, Nov 21 (Reuters) - The banking merger between the Dutch retail operations of Fortis (FOR.BR: Quote, Profile, Research, Stock Buzz) and ABN AMRO will no longer take place, the Dutch Finance Ministry has decided, a Dutch newspaper reported on Friday.

Forbes Moves On Print/Web Merger; Wall Comes Down For Sales Teams; Editorial Combo Completed By '09

Forbes Moves On Print/Web Merger; Wall Comes Down For Sales Teams; Editorial Combo Completed By ‘09

Panasonic, Sanyo confirm merger talks

HONG KONG (MarketWatch) -- Panasonic Corp. and Sanyo Electric Co. formally announced merger talks Friday, potentially opening the door to the creation of Japan's biggest consumer-electronics company.

Gulf Bank rules out merger

Kuwait's Gulf Bank is not seeking a merger for the time being as major shareholders support the troubled bank and its emergency rights issue, its chairman said.

Koei, Tecmo Formalize Merger

Koei and Tecmo have issued a joint, Japanese-language press release stating the formal details of their merger.

St George-Westpac merger given go ahead

St George Bank Ltd shareholders have voted overwhelmingly in favour of Westpac Banking Corp's $16 billion merger proposal.

Westpac, St George merger approved

A count of proxy votes cast by St George Bank shareholders has gone in favour of the bank's proposed merger with Westpac Banking Corp.

St George-Westpac merger given go ahead

A count of proxy votes cast by St George Bank Ltd shareholders has gone in favour of the bank's proposed merger with Westpac Banking Corporation.

Thursday Papers: Lloyds TSB investors back HBOS merger -- bid news and gossip

Lloyds TSB investors back HBOS merger and fund raising; HBOS plans to add to three-year government-guaranteed sterling bond; Lloyds on track to complete deal by mid-January

Scots bid to scupper ?12bn HBOS merger

Lloyds TSB's controversial £12.2bn merger with Britain's biggest mortgage lender HBoS was facing uncertainty this weekend after two of Scotland's most prominent business figures moved to scupper the deal, apparently with Government support.

Bid to block HBOS merger launched

A group of businessmen, bank customers and shareholders is to seek a legal ruling that Business Secretary Lord Mandelson's decision to allow the merger was unlawful.

Bid to block HBOS merger launched

A group of businessmen, bank customers and shareholders is to seek a legal ruling that Business Secretary Lord Mandelson's decision to allow the merger was unlawful.

Bid to block HBOS merger launched

A group of businessmen, bank customers and shareholders is to seek a legal ruling that Business Secretary Lord Mandelson's decision to allow the merger was unlawful.

Court approves Westpac-St George merger

The Federal Court has given its approval to the share scheme for the merger of Westpac Banking Corp and St George Bank Ltd.

Court approves Westpac-St George merger

The Federal Court has given its approval to the share scheme for the merger of Westpac Banking Corp and St George Bank Ltd.

St George shareholders vote for Westpac merger

St George shareholders have voted overwhelmingly in favour of a merger with Westpac at a meeting in Sydney.

Northeast Community CU Members Approve Merger With Haverhill Bank

HAVERHILL, Mass. — Members of the $97 million Northeast Community Credit Union have approved the merger between their credit union and a local community bank.

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