The Competition and Markets Authority (CMA) has dropped its month-long investigation into the £11bn merger between Standard Life and Aberdeen Asset Management.
The regulator said it would not be progressing into a deeper second phase investigation stating it had "completed its review" of the proposed merger, which will create the UK's largest asset management firm with about £660bn in assets under management (AUM). Last month, the CMA announced an investigation into the merger, which is set to complete on 14 August, in order to determine whether the deal would lead to a "substantial lessening of capital". On Monday, shareholders of both Aberdeen and Standard Life overwhelmingly approved the merger with 98.6% and 95.81% of the votes respectiv...
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