Aberdeen boss Gilbert: "A lot of people want to buy us"

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Aberdeen Asset Management boss Martin Gilbert wants to stay independent but said potential suitors were constantly making bid overtures for the Scottish funds group.

The veteran fund manager dismissed suggestion he had tried to put the business up for sale last year following a slump in performance  – but said he had been approached about a a takeover.

None of these approaches were formal bids.

“I’ve never tried to sell the business but we do get a lot of people wanting to buy us. So far, we have managed to resist. There’s been a lot of interest, but being independent is a massive benefit to us,” he told Bloomberg. 

The former FTSE 100 giant was relegated to the 250 this year after a sharp drop in its share price following a spate of big outflows from some of its sovereign wealth fund customers. 

Shares rose 3.6% this morning on the back of Gilbert’s comments. 

Source Article from http://www.standard.co.uk/business/aberdeen-boss-gilbert-a-lot-of-people-want-to-buy-us-a3252996.html

May 20, 2016 |
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