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British bank TSB agrees takeover from Spain's Sabadell
(MENAFN- AFP) TSB, a division of Britain's bailed-out lender Lloyds Banking Group, has accepted a £1.7 billion takeover from Spanish bank Sabadell, the pair said Friday.
The two lenders have agreed terms on the cash offer which was pitched at 340 pence per share and worth 2.3 billion euros or $2.5 billion, they said in a statement.
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