More details have been released on the proposed merger between Aberdeen Asset Management (ADN) and Standard Life (SL.), which, subject to shareholder approval, is expected to be completed around 14 August.
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Synergies of around £200m (that's per year) are expected to come from the merging of operations that could see 800 jobs lost from the combined group. These efficiencies could cost a total of £320m to achieve and will mostly be constituted by bringing together the operating, trading and other platforms used by each business, reducing the number of third-party service providers and cutting overlaps in distribution.
