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HBOS rallies, but Lloyds deal remains in spotlight

Shares in Bank of Scotland and Halifax parent HBOS rebounded by 21% yesterday but nevertheless closed at a yawning 29% discount to the value of Lloyds TSB�s takeover offer.

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IAN McCONNELL, Business Editor

Shares in Bank of Scotland and Halifax parent HBOS rebounded by 21% yesterday but nevertheless closed at a yawning 29% discount to the value of Lloyds TSB's takeover offer - signalling continuing doubt in the City that the deal will complete on current terms.