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.
Stonham, P. (1994). The HSBC Holdings/Midland Bank takeover. Part one: Strategy, tactics and logic. European Management Journal, 12(1), 39–48. https://doi.org/10.1016/0263-2373(94)90045-0