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Abstract

This is part of a case series. In 1992, the Hong Kong and Shanghai Banking Corporation successfully took over Midland Bank Plc following a non-hostile bid. It also represented the culmination of a long-term strategy on the part of HSBC Holdings. The result was the creation of the second largest non-Japanese bank in the world and the largest in the UK, measured by 1992 market capitalisation. However, the bid was strongly contested by Lloyds Bank in a counter-bid in the Spring of 1992. In Part One of the case study, Paul Stonham analyses the competing bidders' strategies in attempting to acquire Midland Bank, the logic of each bidder's offer and the tactics employed in wooing Midland's directors and shareholders.

Time period

The events covered by this case took place in 1992.

Geographical setting

Region:
World/global
Countries:
United Kingdom; Hong Kong

Featured companies

HSBC Holdings
Industry:
Banking
Midland Bank Plc
Industry:
Banking

About

Abstract

This is part of a case series. In 1992, the Hong Kong and Shanghai Banking Corporation successfully took over Midland Bank Plc following a non-hostile bid. It also represented the culmination of a long-term strategy on the part of HSBC Holdings. The result was the creation of the second largest non-Japanese bank in the world and the largest in the UK, measured by 1992 market capitalisation. However, the bid was strongly contested by Lloyds Bank in a counter-bid in the Spring of 1992. In Part One of the case study, Paul Stonham analyses the competing bidders' strategies in attempting to acquire Midland Bank, the logic of each bidder's offer and the tactics employed in wooing Midland's directors and shareholders.

Settings

Time period

The events covered by this case took place in 1992.

Geographical setting

Region:
World/global
Countries:
United Kingdom; Hong Kong

Featured companies

HSBC Holdings
Industry:
Banking
Midland Bank Plc
Industry:
Banking

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