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Standard Life Agrees to Buy Aegon UK for £2 Billion
The deal gives Aegon a 15.3% stake in Standard Life and cash, with proceeds earmarked for deleveraging and share buybacks.
- On Wednesday, Standard Life agreed to acquire Aegon UK for £2 billion, creating the United Kingdom's largest retirement savings business with £480 billion in assets under administration.
- Amsterdam-Listed Aegon put its United Kingdom arm up for sale last year as part of a group-wide overhaul to shift headquarters to the United States and rebrand as Transamerica.
- Standard Life will pay £750 million in cash and issue 181.1 million new shares to Aegon, adding 3.8 million customers to the firm's existing 12 million.
- The acquisition targets £800 million in cost savings, with Standard Life CEO Andy Briggs stating, "together, we will not only be stronger, we will be better."
- Completion of the transaction is expected around the end of 2026, positioning Standard Life as the second-largest workplace pensions platform in the United Kingdom.
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Total News Sources31
Leaning Left5Leaning Right1Center10Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 31%
C 63%
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