Macquarie Group to make cash offer for SWIP

Macquarie Group is aiming to bump Aberdeen Asset Management out of the running to buy Scottish Widows Investment Partnership

Friday 8 November 2013 at 15:21

Macquarie Group is aiming to bump Aberdeen Asset Management out of the running to buy fund manager Scottish Widows Investment Partnership with a roughly £500 million ($800 million) all-cash offer within the next two weeks, people familiar with the matter said.

Aberdeen Asset Management two weeks ago emerged as front-runner for Scottish Widows Investment Partnership, or SWIP, the fund management arm of Lloyds Banking Group.