Lloyds to buy HBOS in $50 billion deal (Reuters)

Wednesday September 17, 5:28 pm ET By Steve Slater LONDON (Reuters) - British bank Lloyds TSB (LSE:LLOY.L - News) has agreed to buy rival HBOS Plc (LSE:HBOS.L - News ) to create a 28 billion pound ($50 billion) mortgage company, a person familiar with the matter said on Wednesday, making it the latest troubled bank to be forced into the arms of a better-funded rival. HBOS, Britain's biggest home loan lender, will... [read full story]                    

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