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UK Group Challenges Lloyds-HBOS Union

Law360 (December 8, 2008, 12:00 AM EST) -- The United Kingdom's competition appeals court heard an eleventh-hour legal challenge on Monday to the British government's decision to clear Lloyds TSB's proposed acquisition of HBOS PLC — the holding company for the Bank of Scotland and the U.K.'s largest mortgage lender — without referring it to competition authorities.

The appeal by the Merger Acquisition Group, which represents more than 500 shareholders, businessmen and politicians — to the U.K.'s Competition Appeals Tribunal takes aim at the British government for relaxing its competition rules for the deal...
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