Britain’s competition watchdog has launched an inquiry into the £11bn ($14Bn USD) merger between Standard Life and Aberdeen Asset Management.
It will look at whether the tie-up “may be expected to result in a substantial lessening of competition”.
The Competition and Markets Authority said it was seeking feedback and would decide by 18 July whether to launch a more in-depth investigation.
The merger between the two Scottish-based fund managers was agreed in March and if given the green light would create a global powerhouse overseeing £660bn ($857Bn USD) of assets.
It is targeting cost savings of £200m ($259.92M USD) a year, with around 800 jobs expected to be lost over a three-year period from the current global workforce of 9,000 staff.
Full Content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI