In play ?
Aberdeen Asset Management gained the most since April 2014 in London trading after a newspaper reported that the company has begun to sound out potential buyers.
Bloomberg News reports that the shares rose as much as 7.2% after the Financial Times reported that Martin Gilbert, the company’s founder and CEO, had made informal approaches to a number of competitors in recent months, citing people familiar with the process.
A spokesman for Aberdeen told Bloomberg that the CEO had never made a formal or informal approach to anyone to buy the business.
Aberdeen is grappling with an outflow of funds as investor sentiment toward emerging markets waned. Gilbert told Bloomberg last month that he had seen no let-up in client redemptions since the firm reported $15bn of net outflows in the three months through June, on top of the $9.7bn for the previous quarter.
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