Standard Life £3.8 billion acquisition of Aberdeen Asset Management

Overview:

• Standard Life is set to acquire Aberdeen Asset Management for £3.8 billion.
• The deal will create the UK's largest asset manager with £660 billion under management.
• Standard Life shareholders will own 66.7% percent of the combined entity. Aberdeen shareholders will receive 0.757 a share for each share they already own.
• Bloomberg reports that one possible reason for the merger is to help counter the trend of money moving from active fund management (the area in which the two occupy) to passive fund management.
• At time of writing, Aberdeen’s two biggest investors, Mitsubishi and Lloyds Banking Group, have both backed the deal.
• Standard Life is a life insurer and fund manager with 6,300 staff.
• Aberdeen is a emerging market asset manager and investor with 2,800 staff.
• Legacy firm Maclay Murray & Spens (Guy Norfolk) also advised Aberdeen.

Sam Duke - Editor