Shareholders have given their blessing to the merger of Standard Life and Aberdeen Asset Management this summer, with a vote on the $12bn deal garnering sweeping support from both sides.
More than 95% of shareholders voted in favor of the merger on Monday, removing what could have been a major roadblock for the deal to go ahead.
The blockbuster deal only needed the nod from half of Standard Life’s investors and three quarters of Aberdeen’s to pass, but instead got the all-clear from a respective 99% and 95% of shareholders.
The new group – to be called Standard Life Aberdeen – will create Europe’s second largest fund manager with $670bn under management and 9,000 staff, although around 800 jobs are set to go.
Full Content: BBC News
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