Macquarie moves to hijack Aberdeen's SWIP bid with £500m offer

Anna Fedorova
clock

Australian banking giant Macquarie Group has moved to scupper Aberdeen Asset Management's deal to buy Scottish Widows Investment Partnership (SWIP) after making a £500m cash offer for the business, according to reports.

Two weeks ago, Aberdeen Asset Management emerged as the front-runner for acquiring SWIP, confirming talks were ongoing about a takeover. Macquarie remained the second name in the frame thought to be in with a shot at buying the business, and according to a report in the Wall Street Journal it has now made a cash offer for the fund management arm of Lloyds Banking Group as it moves to outflank Aberdeen. Sources told the paper Lloyds is likely to reach a decision regarding the sale of SWIP by 22 November. Aberdeen's bid is based on issuing shares to Lloyds, with a cash offer from Mac...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Industry

Former LGIM CEO Michelle Scrimgeour recognised in King's Birthday Honours

Former LGIM CEO Michelle Scrimgeour recognised in King's Birthday Honours

The honours mark the contributions and service of people across the UK

Jonathan Stapleton
clock 16 June 2025 • 1 min read
Court backlog to delay some finfluencer trials until 2027

Court backlog to delay some finfluencer trials until 2027

Treasury Committee hearing

Sorin Dojan
clock 10 June 2025 • 2 min read
Guinness Global Investors' Iona Frisby launches investment initiative for young professionals

Guinness Global Investors' Iona Frisby launches investment initiative for young professionals

It will be titled Gen Invest

Sorin Dojan
clock 09 June 2025 • 1 min read
Trustpilot