PhotoLONDON — Standard Life and Aberdeen Asset Management said on Monday that they had agreed to an all-share merger to create Britain’s largest asset manager, worth about $13.5 billion based on their stock market value. “The combination of our businesses will create a formidable player in the active asset management industry globally,” Keith Skeoch, the Standard Life chief executive, said in a news release. Under the terms of the deal, Aberdeen shareholders would receive 0.757 shares of the new Standard Life for each Aberdeen share they own. Advertisement Continue reading the main storyStandard Life, based in Edinburgh, was founded in 1825 as a life insurance company. Advertisement Continue reading the main storyGoldman Sachs and the law firm Slaughter and May is advising Standard Life.

Source: New York Times March 06, 2017 09:02 UTC