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Scotland's Standard Life in talks to buy Aberdeen, forming £660b European asset management giant

Merger will help Aberdeen steady itself after significant outflows

London

STANDARD Life Plc, Scotland's largest insurer, is in talks to acquire Aberdeen Asset Management Plc, creating one of Europe's biggest asset managers overseeing £660 billion (S$1.1 trillion).

Under the terms of the potential deal, Standard Life shareholders would own 66.7 per cent 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 of the asset manager's ordinary shares. That values Aberdeen in line...

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