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NAB Waits to Place Indicative Bid on Lloyds


National Australia Bank's (ASX:NAB) is waiting to put an indicative bid for the 632 Lloyds Banking Group branches up for sale. NAB did not want to cave in to pressure when the bid process was stepped up.

Lloyd's chief executive Antonio Horta-Osorio set a Monday deadline for indicative bids, stunning potential bidders. The date was much earlier than expected for the deal that could reach $4.8 billion.

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