Standard Life, Aberdeen merger gets green light from UK regulators

Standard Life's £11bn merger with Aberdeen Asset Management has been given the green light by UK regulators.

Both the Financial Conduct Authority and the Prudential Regulation Authority confirmed on Tuesday that they approve of the merger, which remains subject to regulatory approvals in other jurisdictions.

The merger, announced back in March, is due to complete on 14 August.

The nil-premium deal, which will create one of the largest active investment managers globally with £660bn of assets under management, will see Aberdeen shareholders own roughly a third of the enlarged company and Standard Life's the rest, with each Aberdeen share exchanged for 0.757 new shares.

At 1330 BST, Standard Life shares were up 2% to 429.6p while Aberdeen was 2.3% firmer at 324.60p.