Bank of Bermuda shareholders yesterday voted overwhelmingly in favour of the sale of the bank to HSBC for $1.3 billion. The vote was 91 per cent in favour. Shareholders will receive $45 a share – $40 from HSBC and $5 from Bank of Bermuda. The sale of the bank – one of three in the British colony and the island’s largest employer with almost 3,000 staff – was also approved on Monday by the Bermuda Monetary Authority. The Bank of Bermuda board recommended acceptance when the purchase was announced last October, but there was local opposition to the sale.
Bank Of Bermuda Shareholders Approve Sale To HSBC
Bank of Bermuda shareholders yesterday voted overwhelmingly in favour of the sale of the bank to HSBC for $1.3 billion. The vote was 91 per cent in favour. Shareholders will receive $45 a share $40 from HSBC and $5 from
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