Abrdn closes in on finalising £1.5bn Interactive Investor takeover
Abrdn could today announce the £1.5bn takeover of DIY investment platform Interactive Investor (II).
The deal, after weeks of exclusive negotiations, was in its final stages yesterday, reported Sky News’ Mark Kleinman, who also revealed last month that the two firms had begun talks.
The acquisition of II – which, with 400,000 personal investing clients, ranks only behind Hargreaves Lansdown in UK customer numbers – would transform the asset manager’s personal investing capabilities.
Investor confidence in the takeover was indicated in November as share prices spiked following news that talks had begun.
II – which had been preparing for a 2022 London float prior to the deal – will continue to be run by Richard Wilson and will operate independently within Abdrn, according to Sky News sources.
The deal will not require fresh equity to be raised by Abrdn.