Shares in Aberdeen Asset Management have jumped more than 5% in afternoon trading, after the group confirmed it is in talks to acquire Scottish Widows Investment Partnership (SWIP).
Speculation over the potential new owner of SWIP has been hotting up, with Aberdeen and Australian banking group Macquarie revealed as the last two remaining bidders earlier this week. Today, Aberdeen confirmed it is in acquisition talks with Lloyds, the owner of the Scottish investment management group. A deal would see Aberdeen issuing new shares to the bank to fund the takeover. If the acquisition goes ahead, Aberdeen will be the largest listed European asset manager, with total assets of around £350bn. Shares in Aberdeen jumped more than 5% initially on the news, and are curren...
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