Standard Life Eyes Aberdeen to Create $811 Billion Manager
- Deal would create one of Europe’s largest asset managers
- Combination could achieve annual cost savings of $246m: Sky
The headquarters of Standard Life are seen on Lothian Road, in Edinburgh, Scotland, U.K., Thursday, April 13, 2006. Standard Life Assurance Co., a life insurer, will issue demutualization documents to its 2.5 million members, providing details of bonus plans and information about windfalls.
Photographer: James Fraser/BloombergStandard Life Plc, Scotland’s largest insurer, is in talks to acquire Aberdeen Asset Management Plc, creating one of Europe’s biggest fund managers overseeing 660 billion pounds ($811 billion).
Under the terms of the potential deal, Standard Life shareholders would own 66.7 percent of the combined group, according to a joint statement on Saturday. Aberdeen’s investors would receive 0.757 new Standard Life ordinary share for each share they already own. That values Aberdeen in line with Friday’s market value of 3.77 billion pounds, according to Bloomberg calculations.