BUSINESS LIVE: Abrdn and II deal approaching; LadBible Set for London Float

BUSINESS LIVE: Abrdn and Interactive Investor Deal Approaching; KMPG faces a government contract ban; LadBible Set for London Float

British asset manager Abrdn is nearing a deal to buy DIY stock-picking platform Interactive Investor, and confirmation of the acquisition is expected soon, according to reports.

Abrdn shares rose 2.2 percent in late trading yesterday in response to speculation about a deal, under which II would operate independently within the asset manager and further led by Richard Wilson.

KPMG could be banned from applying for government contracts after a series of scandals.

The Big Four consultant was the third biggest public contract winner in the year to March, after Deloitte and PwC, with £244 million worth of work.

The online ‘lads mag’ Lad Bible is going to the London stock market with a valuation of £360 million.

To boost credibility, Lad Bible hired Carol Kane, the co-founder of online fashion site Boohoo, to serve on its board. It will aim to raise £30 million from the offer.

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Abrdn’s swoop for II is expected in the coming days