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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Aberdeen Asset Management    ADN   GB0000031285

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Aberdeen Asset Management : Standard Life and Aberdeen shareholders back 11 billion pound deal

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06/20/2017 | 10:34am CEST
A worker leaves the Standard Life House in Edinburgh, Scotland

Standard Life's (>> Standard Life) 11 billion pound deal to buy Aberdeen Asset Management (>> Aberdeen Asset Management) was approved by both companies' shareholders at meetings on Monday.

Standard Life's (>> Standard Life) 11 billion pound deal to buy Aberdeen Asset Management (>> Aberdeen Asset Management) was approved by both companies' shareholders at meetings on Monday.

The deal announced in March is due to complete in mid-August and will create Britain's biggest listed asset manager and one of the world's top 25 active fund management companies.

More than 95 percent of shareholders at both companies voted for the merger, comfortably passing the minimum support needed.

Aberdeen Chairman Simon Troughton said that investors' "overwhelming" support reflected the strategic and financial rationale for the deal.

"The strengths of the combined businesses ... are strongly aligned to the needs of clients now and in the future," he said in a statement.

"The new company will have a robust balance sheet and diverse revenue streams, by asset class and distribution channel. This will facilitate investment in the business to support long-term growth and shareholder returns."

(Reporting by Simon Jessop and Carolyn Cohn; Editing by David Goodman)

By Simon Jessop and Carolyn Cohn

Stocks treated in this article : Aberdeen Asset Management, Standard Life
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Financials ( GBP)
Sales 2017 1 062 M
EBIT 2017 319 M
Net income 2017 175 M
Finance 2017 417 M
Yield 2017 6,11%
P/E ratio 2017 21,33
P/E ratio 2018 18,84
EV / Sales 2017 3,25x
EV / Sales 2018 3,15x
Capitalization 3 864 M
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Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 2,95  GBP
Spread / Average Target 0,49%
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Managers
NameTitle
Martin James Gilbert Chief Executive Officer & Executive Director
Simon Richard Vivian Troughton Chairman
Andrew Alasdair Smith Co-Chief Operating Officer & Head-Americas
Iain Plunkett Co-Chief Operating Officer & CTO
William John Rattray Executive Director & Finance Director
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