Aberdeen In Chase For $809M Lloyds Asset Management Unit

Law360, New York (October 24, 2013, 1:51 PM EDT) -- Aberdeen Asset Management PLC on Thursday confirmed it is pursuing the £500 million ($807.4 million) Scottish Widows Investment Partnership unit of Lloyds Banking Group PLC, walking back on a statement made earlier this year that such a deal would be “extremely unlikely.”

The firms did not say list the going rate for SWIP, but various media outlets have pegged its value between £400 million and £500 million. Thursday's announcement from Aberdeen adds weight to rumors that bubbled up earlier this month that the company was a...
To view the full article, register now.