Standard Life proposes Ignis purchase

<p>Standard Life is in advanced talks to buy Ignis.</p>

The share price of Standard Life is up this morning (March 24th) after the company confirmed it is in advanced talks over the purchase of Ignis Asset Management.

It was revealed by the firm that it is planning to buy Ignis, which is believed to be worth as much as £400 million.

Edinburgh-based pensions and insurance specialist Standard Life said it was in "exclusive and advanced" talks over a deal for the company.

However, it was added by the firm "there was no certainty that any transaction will be agreed".

Standard Life will become one of the UK's biggest investment managers if the deal for Ignis goes through. Ignis is currently owned by life assurance firm Phoenix Group.

A statement released yesterday said: "Standard Life Plc will make further announcements if and when appropriate."

Investors responded well to the news when the London Stock Exchange opened for a new week of trading this morning.

By 08:45 GMT, stocks in Standard Life were up by around 0.5 per cent on the start of the day.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.