Abrdn (ABDN) has confirmed a £1.49bn takeover of interactive investor, the UK’s second-largest do-it-yourself investment platform, subject to regulatory and shareholder approval.
The acquisition, which will see interactive investor’s 400,000 customers join the £532bn Abrdn stable, is expected to complete in the second quarter of 2022.
Interactive investor has confirmed its management will remain the same, with chief executive officer Richard Wilson, reporting into Abdrn's boss Stephen Bird.