Lloyds' Hostile Bid For Midland Bank Draws Fire From Forex Market Players
BANKS
Foreign exchange market participants were less than enthusiastic about this week's announcement that Lloyds Bank intends to top Hongkong Shanghai Banking Corporation's (HSBC) friendly offer of 3.3 billion pounds sterling for Midland Bank with a hostile offer of its own. Treasury executives from rival banks and major corporations say a Lloyds merger offers little benefit to the Midland treasury operation compared to one with HSBC.
While shareholders may smile on Lloyds' bid -- at 3.6 billion
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