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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 |
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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