HGH - Heartland Group Holdings

[Crackity]

I quite like this merger / acquisition

Unfortunately I don't own any HGH

Hmmm

[Plata]

Synergies and strategy mismatch aside, the equity component was well above pre announcement market price and the standalone PE ratio implied seems fair enough too. I don't really have faith in management to realise the full synergies  and integration costs will probably go overbudget (pessimistic view here) however I reckon they'll capture at least some of them. And thats all they really need to make a fair PE ratio start becoming bargain level.

Scale is the name of the game it seems in banking, just got to make sure TSB gets properly digested

[Left Field]

I bought back in yesterday.

Happy to be a HGH holder again (and new TSB holder.)

FWIW I've banked with TSB for over 20 years and found them excellent to deal with.