Sunday, 9 November 2008
HBOS board rejects the two former chiefs advice
The two former chiefs want to keep the bank independant as they argued that it would protect jobs and bring benifits to customers and shareholders.
The government has already spent £17bn of taxpayers' money bailing out HBOS.
HBOS said thier plan offered the shareholders no value and that merger plans with Lyolds TSB were on track.
Gordon Brown has given his backing for the takeover.
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