Board faces its critics as shareholders decide - Business - Evening Standard
       

Board faces its critics as shareholders decide

Directors of Lloyds TSB today faced a barrage of criticism from shareholders and trade unions over their plan to buy stricken lender HBOS.

Meeting to vote on whether the deal should go ahead, shareholders were worried by the risks of saddling conservatively-run Lloyds with HBOS - hugely exposed to the UK property market and scores of risky leveraged buyouts.

Union members with banners calling for "secure jobs, secure banks" rallied against the thousands of possible job cuts if the merger goes ahead.

More than 200 shareholders turned up to the Lloyds shareholder meeting in Glasgow, where they will also vote on whether to approve raising £5.5 billion from the Government.

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