Tribunal rule against complainers and FSA clearance given
The takeover of HBOS by Lloyds TSB moved closer yesterday after the Competition Appeal Tribunal (CAT) ruled against a complaint brought by the Merger Action Group that opposes the merger
The tribunal panel of the Honourable Mr Justice Barling, Michael Blair and Peter Grinyer denied the group any of its claims and threw out the challenge. The 40-page ruling is available on the CAT website.
The FSA yesterday also approved the merger – a requirement under the Financial Services and Markets Act 2000.
