1.   A spokesman for the company affirmed that a merger was likely.

2.   In the absence of scale economy benefits, horizontal mergers are likely to be socially undesirable.

3.   The Chief Executive led off by pointing out that a merger was only one option.

4.   The merger is subject to approval by shareholders.

5.   The shares have recovered a bit since it was clear that the merger was doomed but still look good value.

6.   We believe that a merger is the best way forward for the business.

7.   The merger was very demoralizing and I put it, if I remember rightly, top of my list of priorities which means that gets it.

8.   If the SBI merger is a good guide, then building society staff will soon be playing a very prominent role.

9.   Following several years of intense competition and excess capacity, the merger was the most significant change to date in the rationalisation of the industry.