BUSINESS LIVE: Abrdn and Interactive Investor deal nears; KMPG faces government contract ban; LadBible set for London float
British asset manager Abrdn is nearing a deal to buy DIY stock-picking platform Interactive Investor, with confirmation of the tie-up expected imminently, according to reports.
Abrdn shares jumped 2.2 per cent in late trading yesterday in response to speculation of a deal, which would see II operate independently within the asset manager and continue to be run by Richard Wilson.
KPMG could be banned from applying for Government contracts after a series of scandals.
The Big Four consultant was the third biggest winner of public contracts in the year to March after Deloitte and PwC, with £244million of work.
Online ‘lads mag’ Lad Bible is set to float on the London stock market with a valuation of £360million.
To beef up credibility Lad Bible has hired Carol Kane, the co-founder of the online fashion site Boohoo, for its board. It will look to raise £30million from the offering.
Abrdn’s swoop for II is expected in the coming days