25th Oct 2015 17:12
LONDON (Alliance News) - Aberdeen Asset Management PLC has started sounding out potential buyers for the company as the fund manager attempts to stem a recent slump in profitability, its share price and its assets under management, the Financial Times reported.
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. Gilbert, who also founded the business, declined to comment to the FT.
Aberdeen has been hit hard in recent months by the turmoil in emerging markets, where a large proportion of its investment portfolio is focused.
https://next.ft.com/content/41fc1e60-7b0e-11e5-a1fe-567b37f80b64
By Sam Unsted; [email protected]; @SamUAtAlliance
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