Update: Aberdeen and Standard Life shares soar as groups confirm £11bn merger plans

Joint venture would see Gilbert and Skeoch as co-CEOs

Jayna Rana
clock • 6 min read

Aberdeen Asset Management and Standard Life announced this morning they have reached a recommended all-share merger deal, which would create "a formidable player in the active asset management industry globally" running over £660bn of assets.

After confirming merger talks over the weekend, Aberdeen and Standard Life said an agreement has now been reached and they are recommending the deal to shareholders. Shares in both financial firms soared in early trade this morning as investors digested the news. On opening, Aberdeen shares jumped 6.8% to 305.90p, while Standard Life shares leapt 9% to 412.70p. Under the terms of the agreement, Aberdeen shareholders would receive a merger ratio of 0.757 new Standard Life ordinary shares for each Aberdeen ordinary share. Based on this exchange ratio and the closing price of 378.5p p...

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 Investment

Partner Insight: Navigating a new era for investing

Partner Insight: Navigating a new era for investing

Across the developed world, inflation is back and here to stay, says Wellington Management’s John Butler.

Sarka Halas
clock 13 March 2024 • 2 min read
Partner Insight: Should investors go global for more impact?

Partner Insight: Should investors go global for more impact?

Global investing offers scope for broader social impact as well as financial returns.

Sarka Halas
clock 11 March 2024 • 1 min read
Women in Investment Awards winner interview: Omotunde Lawal from Barings

Women in Investment Awards winner interview: Omotunde Lawal from Barings

Supporting the next generation

Katrina Lloyd
clock 07 March 2024 • 1 min read
Trustpilot