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Rating:Delaware's Owner Moves to Block an Aberdeen Deal Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, November 7, 2013

Delaware's Owner Moves to Block an Aberdeen Deal

News summary by MFWire's editors

This is what it looks like when investment bankers play rugby.

Macquarie Group, the Australian parent of Delaware Investments plans to block Aberdeen's play for a Scottish investment concern, reports Wall Street Journal.

The Journal reports that the Australian firm plans to make a $800 million all-cash offer for the fund manager Scottish Widows Investment Partnership. The newspaper notes that Aberdeen had emerged two weeks ago as a front-runner for buying SWIP, which is the fund management arm of Lloyds Banking Group.

According to the Journal, sources say that Lloyds is likely to reach a decision on the SWIP sale by Nov. 22. 

Edited by: Tommy Fernandez

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