26th Oct 2015 10:31
LONDON (Alliance News) - Aberdeen Asset Management PLC has a denied weekend report that it has been sounding out possible buyers for the business, as its shares sat atop the FTSE 100 throughout the morning, boosted by the takeover speculation.
Aberdeen shares were up 3.8% to 364.8 pence on Monday, the best performer in the FTSE 100.
The Financial Times on Sunday said the group has started sounding out potential buyers for the company, as the emerging-markets-focused fund manager attempts to stem a recent slump in profitability, its share price, and its assets under management.
People familiar with the process said Martin Gilbert, the chief executive of the company, had made informal approaches to a number of rivals in recent months, the newspaper said. Gilbert, who also founded the business, declined to comment to the FT.
On Monday, a spokesman for Aberdeen denied the report, saying that Gilbert "has never approached anyone, formally or informally, about buying the business."
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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