Aberdeen Said to Join Bidding for Lloyds’s Asset Division
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Aberdeen Asset Management Plc, Scotland’s largest fund manager, is in talks to buy Lloyds Banking Group Plc’s Scottish Widows Investment Partnership, according to three people with knowledge of negotiations.
Aberdeen has joined the race for the asset-management arm of Scottish Widows, said the people who asked not to be identified because the matter hasn’t been made public. The acquisition of Scotland’s third-largest fund manager would make Aberdeen Europe’s biggest publicly traded fund company, with assets of about 350 billion pounds ($561 billion).