Abrdn PLC (LSE:ABDN), the asset management giant formerly known as Standard Life Aberdeen, has confirmed it is in discussions regarding a potential acquisition of online broker Interactive Investor.
Abrdn stressed that while it is in negotiations with private equity owner JC Flowers & Co, there is no guarantee that the talks will result in a transaction.
The Scottish based company had been reportedly interested in acquiring the online investment company over the last few weeks, according to Sky News, who broke the story at the weekend.
Any deal between Abrdn and JC Flowers, which has held a majority stake in the company since 2016, is reported to be in excess of £1.5bn.
With roughly 400,000 customers and assets totalling around £55bn, Interactive Investor, has around a fifth of the retail investment platform market, where it competes alongside rivals Hargreaves Lansdown and AJ Bell.
It has been working on a potential flotation in recent months and a listing could still be on if the talks do not progress to a deal, Sky reported.