Abrdn is reportedly on the verge of finalising a £1.5bn takeover of Interactive Investor.
According to Sky News, abrdn was on Wednesday applying the finishing touches to a takeover, in a move that will transform the asset manager’s personal investing capabilities.
Abrdn, which is headed by Stephen Bird, could announce the acquisition as early as Thursday after weeks of exclusive negotiations, Sky said.
The deal, which will not require abrdn to raise fresh equity, will see it become the owner of a major rival to the likes of London-listed Hargreaves Lansdown and AJ Bell.
Sources told Sky that Interactive Investor would operate independently within abrdn and would continue to be run by Richard Wilson.
