Group Drops Legal Fight Against Lloyds-HBOS Merger

Law360, New York (December 11, 2008, 12:00 AM EST) -- A group of more than 500 shareholders, businessmen and politicians that vehemently opposed Lloyds TSB's proposed takeover of HBOS PLC announced Thursday that it was dropping its legal challenge of the ₤12.2 billion merger of the two financial giants.

One day after the United Kingdom's Competition Appeal Tribunal ruled in favor of Lloyds' acquisition of HBOS, the Bank of Scotland's holding company and the U.K.'s largest mortgage lender, the Merger Action Group said it had decided not to challenge the decision in the Court of Session....
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