Standard Life and Aberdeen Asset Management to merge


Shareholders today overwhelmingly backed an £11billion merger between Standard Life and Aberdeen Asset Management.

More than 95 per cent of investors at Aberdeen and 98 per cent at Standard Life voted in favour of the deal during general meetings held on Monday.

Standard Life shares were trading up 2 per cent at 397.05p while Aberdeen shares soared 4 per cent to 298.65p after the announcement.

Shareholders have overwhelmingly backed an £11billion merger between Standard Life and Aberdeen Asset Management today

The enlarged company, to be called Standard Life Aberdeen, will be headed by Keith Skeoch and Aberdeen boss Martin Gilbert with a bumper 16-member board. 

The merger which was agreed in March will target cost savings of £200million a year, with around 800 jobs expected to be lost over a three-year period from a global workforce of 9,000.

It…



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