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Standard Life and Aberdeen shareholders approve merger

Standard Life and Aberdeen shareholders approve merger

Shareholders in Standard Life and Aberdeen Asset Management have approved a merger of the two companies. 

At a general meeting today 98% of Standard Life shareholder votes were in favour of a merger which will create an asset management business with £11 billion of assets under management.

Aberdeen shareholders also voted in favour of the merger, with 96% of votes in support of the motion. 

Gerry Grimstone, chairman of Standard Life, said the deal was 'one of the most significant events' in the history of the company. 

'There are still some approvals to be granted before the merger can complete and I know the teams in both companies are working through these diligently,' he added.

'We are still on track for a completion date of 14 August and will keep our shareholders informed of developments.'

Following the merger the combined business will be led by joint chief executives Keith Skeoch (pictured right) and Martin Gilbert (pictured left).

 

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