Lloyds TSB buys HBOS for $28bn
British bank Lloyds TSB announced today it was taking over rival bank HBOS - the parent of Perth-based BankWest - in a 12.2 billion pound ($A28 billion) deal.
The landmark all-share deal, effectively a rescue plan for Britain's biggest mortgage lender, comes after HBOS shares plummeted in recent trading following days of global economic crisis.
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