aberdeen asset managemnt this company has fallen from 1.90 per share in may down to 1.34 now. despite having really good broker recommendations, as being a strong buy. Lets hear views and whether or not if you thing they have a good chance of recovery. I have quite a few shares and am wondering whether to stick with or move the money into something else.

Closed at 394.5 so a good trade for me!

Closed at 393.10 on 15,000 shares - nice profit over 24 hours.

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If it can crack 420.0 440.0 next target?

420.0 breached, raised my stop.

Taken some profit here. 500.0 for Christmas?

Aberdeen Asset Management PLC (the "Company") notes recent press speculation and confirms that it is in discussions with Lloyds Banking Group PLC ("Lloyds") in relation to a possible acquisition of Scottish Widows Investment Partnership and the formation of a strategic partnership with Lloyds.

The potential acquisition would add further scale and diversity to the Company's product range, thus complementing organic growth, consistent with the Board's strategy.

950 By Xmas

Annual Results 25th this month.

By Ben Martin

5:46PM GMT 17 Nov 2013

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Aberdeen Asset Management has seen off a rival bid from Australian group Macquarie to secure the acquisition of fund manager Scottish Widows Investment Partnership from Lloyds Banking Group.


A deal for SWIP, which would see state-backed Lloyds take a stake of approximately 10pc in Aberdeen, could be announced as soon as tomorrow.


The transaction is thought to be valued in the region of £500m, based on Aberdeen’s market value at the end of last week. The FTSE 100 fund manager is understood to have been competing with Macquarie to take over SWIP.


Aberdeen confirmed last month that it had made an approach to Lloyds about buying the fund management business, and said it would pay for the deal by issuing new shares to the bank as well as performance-related deferred cash payments. The fund manager, led by chief executive Martin Gilbert, at the same time disclosed that the Lloyds talks also extended to setting up a so-called “strategic partnership” with the lender.


That relationship could see the FTSE 100 asset management firm take advantage of Lloyds’ branch network to sell its funds.



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Investors in Aberdeen have been enthused by the prospect of the SWIP acquisition, which would boost the fund management group’s assets to around £350bn and in turn make it Europe’s largest listed fund manager.

Shares in the FTSE 100 group jumped almost 6pc on the day Aberdeen confirmed it was in talks with Lloyds, but have since come under pressure on concerns that Macquarie would trump the deal with a competing cash bid.

Aberdeen has said that a deal for SWIP would be “materially earnings-per-share enhancing” and rating agency Fitch has described the potential acquisition as “transformational” for the listed Scottish fund manager.

Aberdeen has a large emerging markets business and a takeover of SWIP would boost its exposure to UK equities.

Meanwhile, the disposal would help Lloyds Banking Group to meet stricter capital requirements.

Spokesmen for Aberdeen, Lloyds and Macquarie declined to comment.














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L

Highlights
Net revenue 24% higher at £1,078.5 million (2012: £869.2 million)
Underlying profit before tax increased by 39% to £482.7 million (2012: £347.8 million)
44% increase in underlying diluted earnings per share to 32.5p (2012: 22.6p)
Final dividend of 10.0p per share (2012: 7.1p), making 16.0p for the full year (2012: 11.5p)
Net cash increased by 60% to £426.6 million (2012: £266.4 million)
Assets under management increased by 7% to £200.4 billion (2012: £187.2 billion

To view the announcement in full please visit:

http://www.aberdeen-asset.com/aam.nsf/mediacentre/rnsannouncements

Logo
Acquisition

Released : 18 Nov 2013

RNS Number : 2476T
Aberdeen Asset Management PLC
18 November 2013



ABERDEEN ASSET MANAGEMENT PLC
Acquisition and Strategic Relationship with Lloyds Banking Group

The Transaction
Aberdeen Asset Management PLC ("Aberdeen" or the "Group") announces that it has entered into a definitive agreement to form a long-term strategic relationship with Lloyds Banking Group plc ("Lloyds"), as part of which Aberdeen will acquire Scottish Widows Investment Partnership Group Limited ("SWIP") and SWIP's related private equity and infrastructure fund management businesses ("the Acquired Business") ("the Acquisition" and, together with the long-term strategic relationship with Lloyds, the "Transaction"). The Transaction is subject to certain regulatory approvals. The Acquired Business includes the Investment Solutions division of SWIP which is a separate investment group that is responsible for the design, development and management of investment solutions for Lloyds' wealth clients. The strategic relationship will operate across Lloyds' Wealth, Insurance, Commercial Banking and Retail businesses and is expected to result in a stronger asset management offering for customers.

The consideration for the Acquisition of approximately £550 million (calculated by reference to an Aberdeen share price of 420 pence per share) will be satisfied by the issue of 131.8 million new Aberdeen shares to Lloyds, equivalent to an approximately 9.9% stake in the Group following completion of the Acquisition (referred to as the "Enlarged Group"). In addition, there will be a performance-related five year earn-out payment of up to £100 million dependent on growth delivered by the strategic relationship with Lloyds in the Investment Solutions business. The Acquired Business will add approximately £136 billion of assets under management ("AuM") with annualised revenues of approximately £234 million to the Group.

Transaction Highlights

Diversified business profile
· Combination with SWIP improves the Group's balance of AuM and revenue across asset classes
· Provides new investment capabilities for Aberdeen's global distribution team

Long-term strategic relationship with Lloyds
· Formation of a comprehensive strategic relationship across Lloyds Wealth, Insurance, Commercial Bank and Retail businesses
· Exclusive long-term relationship with Lloyds Wealth through Investment Solutions
· Long-term contract to manage Lloyds Insurance funds
· Introducer agreement with Lloyds Commercial Bank and distribution opportunities with Lloyds Retail business

Scale and financial strength
· Acquisition adds breadth and depth to Aberdeen's existing product offering and enhances the Group's position as a leading independent global asset manager
· Acquisition elevates Aberdeen to a top five position (by AuM) in the UK retail market, an area of strategic focus

Complementary product capabilities
· The combination of Aberdeen and SWIP's strengths are expected to result in a stronger asset management offering for customers
· SWIP strengthens Aberdeen's existing offering in fixed income and property
· Acquisition of Investment Solutions transforms Aberdeen's ability to offer fiduciary management and strengthens asset allocation, multi-asset and multi-manager capabilities

Value creation
· Acquisition expected to be materially enhancing to underlying earnings per share in first full financial year following completion
· Acquired business anticipated to run at a marginal operating margin of 55%
· Reinforces the Aberdeen Board's commitment to a progressive dividend policy and the ability to return surplus capital over time

Commenting on the Transaction, Martin Gilbert, Chief Executive of Aberdeen Asset Management said:
"This transaction is significant for the long-term prospects of Aberdeen in a number of ways. It strengthens our investment capabilities and adds new distribution channels; the acquisition of SWIP adds scale to our business across a range of asset classes; and it also introduces a strategic relationship with Lloyds Banking Group. We are confident that this transaction will deliver considerable additional value to our expanded client base and this will therefore benefit our shareholders. I am delighted to welcome Lloyds as a major shareholder in the Aberdeen group and we look forward to working with them to deliver value through this new strategic relationship."

Martin Gilbert and António Horta-Osório, Group Chief Executive, Lloyds Banking Group, will host a presentation and webcast for analysts and institutions at 1030 GMT today at Deutsche Bank, 1 Great Winchester Street, London, EC2N 2DB.

The webcast can be viewed live on: http://www.media-server.com/m/p/3kiz2imk

For those unable to attend the presentation or view the live webcast, a replay of the event will be available on the Group's website at www.aberdeen-asset.com.

Acquisition structure
The consideration will be satisfied by the issue to Lloyds of 131.8 million new ordinary shares in Aberdeen which is equivalent to 9.9% of the Enlarged Group's share capital, valued at approximately £550 million at completion of the Transaction, calculated by reference to an Aberdeen share price of 420 pence per share (the "Reference Share Price").

Should the Aberdeen volume weighted average price during the five trading days prior to completion of the Acquisition (the "Completion VWAP") be below the Reference Share Price, a "Deferred Top-Up" will be payable to Lloyds. The Deferred Top-Up will be determined by multiplying the number of new shares by the difference between the Reference Share Price and the Completion VWAP, although the Completion VWAP shall never be less than 320 pence for the purpose of this calculation. Lloyds will have the right to terminate the Acquisition if the Completion VWAP is below 320p. The Deferred Top-Up will be payable either in cash or through the issue of additional new shares (at Aberdeen's option) at the end of a 12-month period following completion of the Acquisition. Aberdeen has entered into a partial hedge against stock market movements.

Additionally, there will be a performance related earn-out of up to £100 million payable in cash over a five year period following completion of the Acquisition. The earn-out will be dependent on the growth in the business delivered through the strategic relationship with Lloyds in the Investment Solutions business.

Lloyds has agreed to retain its entire shareholding for a minimum of twelve months from the date of allotment; to retain two thirds of its holding for at least two years; and to retain one third of its holding for at least three years. Further details of the lock-up arrangement are set out at the end of this announcement.

The Acquisition is expected to complete by the end of the first quarter of 2014.

The Acquisition is conditional upon the approval of the Financial Conduct Authority and admission of the new shares to listing on the Financial Conduct Authority's Official List and to trading on the London Stock Exchange's main market for listed securities.

The acquisition of SWIP's related private equity and infrastructure fund management businesses require certain consents and regulatory approvals. Completion of the acquisition of SWIP is not conditional on completion of either of these acquisitions. The consideration of approximately £550 million payable by Aberdeen will be reduced if either the private equity or infrastructure business do not transfer.




Information on the Acquired Business
The Acquired Business, which comprises AuM of approximately £136 billion and annualised revenue of approximately £234 million, is a traditional asset manager with investment capabilities covering a broad range of asset classes, namely fixed income including liquidity solutions; equities including quantitative and active; and alternatives including property, private equity and infrastructure.

The Acquired Business includes the Investment Solutions division of SWIP which is a separate investment group that provides advice in relation to approximately £15 billion of Lloyds' Wealth clients' discretionary assets (as at 31 August) and is responsible for the design, development and management of investment solutions for Lloyds Wealth. Investment Solutions is responsible for the creation and on-going manufacturing of investment content to meet client proposition requirements for Lloyds Wealth on a multi-asset and multi-manager basis. As at 31 August 2013 Investment Solutions had annualised revenues of £17 million2.

The Acquired Business is debt-free and will have net assets of £60 million at completion of the Acquisition including SWIP's related private equity and infrastructure fund management businesses.

AuM and revenue by channel (31 August 2013):

AuM (£bn)1
Revenues (£m)1
Lloyds Insurance
98
1342
Lloyds Wealth
6
14
Institutional
16
41
Liquidity Solutions
8
11
Wholesale
2
16
Other income

2
Total SWIP
130
217
Investment Solutions
6
172
Total
136
234
1 AuM as at 31 August 2013; annualised revenue based on eight-month revenue to August 2013
2 Annualised revenue of £17 million based on existing rate card; under a new agreed rate card revenues would be approximately £29 million. This revenue includes advisory fees generated on approximately £15 billion of Lloyds Wealth clients' discretionary assets. Revenue from Lloyds Insurance would however reduce by a broadly similar amount under a new rate card

Well done here Chris.

Cheers skinny.

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I like history and as can be seen by chart above the last three years ADN has had a good start to the year. 500p is an obvious target, if it breaks that who knows?

Tempted to get back in on the spreads, watching.

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Interim due 16th January, final divi payment 24th. Looking for a bounce long on the spreads @ 443.7 tight stop.

chris

Am playing chess now at 1 day per move max , but if last nite the fellow i was playing was online so we moved faster.

I forgot your user name Kit .......... , My name is parnaso1944