Sir Peter Burt and Sir George Mathewson, the two big hitters who made a lot of noise in their effort to stop Lloyds TSB taking over HBOS, appear to have abandoned their plan. The pair’s website, which had called for the resignation of HBOS chairman and chief executive, has been closed down, and simply carries a message saying a statement will be issued shortly.

It comes after Lloyds TSB shareholders voted in favour of taking over HBOS and accepting government bail-out money. HBOS shareholders will vote on the deal to create a banking giant with 145,000 staff and 3,000 branches next month.