HBOS shares

crockshard | 13:15 Wed 17th Dec 2008 | Business & Finance

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We have been offered Open Offer Shares at 113.6 pence, to be exchanged for 0.605 ordinary shares in Lloyds TSB in January. On the open market, HBOS shares are about 70p, Lloyds TSB shares about 127p. I know nothing about share dealing, but the HBOS open offer to existing shareholders does not seem worthwhile - does it?

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You will be paying 187p for each Lloyds bank share, Why would you do this when you can buy them now for 127p or thereabouts?

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