The combination of UK fund manager Aberdeen Asset Management with the investment business of Standard Life looks like a necessary response to tough times, say City analysts and rivals, who delivered a generally positive verdict on the deal today.
The two companies confirmed plans for an £11.3 billion all-share merger this morning, in which Standard Life shareholders will end up with 66% of the combined entity to Aberdeen’s 33%, and chief executives Keith Skeoch and Martin Gilbert will become co-CEOs.
