Fund manager Abrdn (LON:UK:ABDN) said it's buying Interactive Investor for £1.49 billion ($2 billion) from J.C. Flowers & Co. and management. Interactive Investor has over 400,000 customers and assets under administration of approximately £55 billion. Abrdn said the deal will help it achieve scale in the high-growth direct investing market, accessing new customer segments and capabilities. Abrdn said the deal will be double-digit earnings accretive in the first full financial year following completion.
Dec. 2, 2021, 5:56 a.m. EST