London Investment firm Standard Life agreed Monday to buy Aberdeen Asset Management for 3.8 billion pounds ($4.7 billion) to create Britain's largest asset management company.
The deal will merge two "active" fund managers -- that is, companies that try to use expertise to outperform the wider stock market. Active managers have struggled since the financial crisis, leading investors to pull money out of their funds.
Aberdeen shareholders will receive 0.757 Standard Life shares for ea
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