FORBES: But, But, the Whole Point of Companies is That They Pay Investors!
2.
Lloyds, once seen as a stable investment that paid high dividends and was consistently cashgenerative, is enamored with the task of writing down legacy assets from HBOS--with help from the British government's asset protection program--as well as rebuilding its presence in the U.K. domestic banking market.
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3.
Mega-takeovers are likely to be the preserve of big, cash-generative groups with simple structures.