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UK Competition Watchdog Gives Green Light To Standard Life Aberdeen Merger

Josh O'Neill

23 June 2017

The UK's competition watchdog has approved the £11 billion ($13.9 billion) merger of said it had decided not to conduct an in-depth investigation into the deal. 

Once finalised, the merger will create Europe's second-largest asset manager, with some £670 billion of assets under management. 

Creation of the new company, to be called Standard Life Aberdeen, will see 800 jobs axed over a three-year period from a global workforce of around 9,000. 

The deal is targeting annual cost savings of £200 million.