Standard Life shares tumble as Aberdeen slashes stake
FROM THE PUBLISHER
Shares in Standard Life fell sharply on Thursday as Aberdeen revealed it would sell half of its remaining stake in the company, less than ten years after the messy merger between the two investment firms. Aberdeen will cut its stake to around 5.2 per cent per cent through a secondary placing, which will value Standard Life’s shares at £8.39 per share and raise £436m. Standard Life’s shares fell 4.9 per cent to 828p on news…
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