Asset manager Abrdn in talks to buy Interactive Investor

Asset manager Abrdn said on Monday that it is currently in talks with private equity firm J.C. Flowers & Co about a potential acquisition of fund platform Interactive Investor.

In a very brief statement, the company said there can be no certainty the discussions will result in a transaction and a further announcement will be made as and when appropriate.

The statement followed a report by Sky News over the weekend suggesting that Abrdn was in advanced talks to buy II for more than £1.5bn.

Sky said Abrdn was in exclusive negotiations to acquire II and hopes to strike a formal takeover deal within the next fortnight.

Abrn is majority owned by funds advised by J.C. Flowers.