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. © 1994.
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