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LLOY Lloyds Banking Group Plc

51.76
0.09 (0.17%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Lloyds Banking Group Plc LSE:LLOY London Ordinary Share GB0008706128 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.09 0.17% 51.76 51.70 51.72 52.43 51.57 52.23 248,468,301 16:35:16
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Commercial Banks, Nec 23.74B 5.46B 0.0859 6.02 32.87B

Standard Life in Talks to Buy Asset Manager

24/03/2014 9:51am

Dow Jones News


Lloyds Banking (LSE:LLOY)
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From Mar 2019 to Mar 2024

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LONDON-- Standard Life PLC said Monday it is "in exclusive and advanced" talks with Phoenix Group Holdings over a potential acquisition of Ignis Asset Management Ltd, in what would be the latest move to consolidate the fund management industry.

The Edinburgh-based financial group was responding to weekend news reports that valued the deal at around GBP400 million ($665.4 million).

Standard Life, which didn't disclose any financial details of the deal, said discussions are ongoing but cautioned that there can be no certainty that any transaction will be agreed.

Phoenix also confirmed the talks and said it would update the market when it reports annual results on March 26.

Ignis has assets under management of about GBP67.6 billion, according to its website, largely in fixed income. Standard Life manages over GBP244 billion of assets.

A deal between Standard Life and Phoenix would follow consolidation elsewhere in the fund management industry, with Aberdeen Asset Management PLC buying Scottish Widows Investment Partnership from Lloyds Banking Group PLC last year.

Write to Ian Walker at ian.walker@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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