The proposed merger of Aberdeen Asset Management and Standard Life has received the go-ahead from the shareholders of both companies.
The deal, announced in March 2017, will lead to the creation of a new entity known as Standard Life Aberdeen that will manage £660bn in assets.
Go deeper with GlobalData
The combined entity will be jointly headed by Standard Life CEO Keith Skeoch and Aberdeen CEO Martin Gilbert.
Standard Life chairman Gerry Grimstone said: “Our Merger with Aberdeen will be one of the most significant events in our near-200 year history, creating a well-diversified world-class investment company.”
Last month, the companies announced plans to lay off 800 jobs as part of the deal.
“We are still on track for a completion date of Monday 14 August and will keep our shareholders informed of developments,” Grimstone stated.
