Aberdeen Asset Management has confirmed it is in discussions to buy Scottish Widows Investment Partnership (Swip), an acquisition that would “add further scale and diversity to the company’s product range”.
The company said it felt moved to respond to press speculation about a deal between the businesses, which had been ongoing for several weeks.
Aberdeen said it expected the proposed acquisition to “enhance” earnings per share and form part of its progressive dividend policy.
If agreed, the acquisition would be funded through the issuance of new Aberdeen shares to Lloyds and additional deferred payments in cash, conditional on the performance of the partnership over a period of years, the company said in a statement.
But it cautioned that these discussions would not necessarily lead to an acquisition.
