Shareholders in Aberdeen Asset Management voted “overwhelmingly” in favour of the company’s merger with Standard Life plc.
At a special meeting, 711 voted in favour of the merger compared to 58 who voted against it.
The merger is expected to create the UK’s largest active asset manager and one of the top 25 in the world.
Simon Troughton, chairman of Aberdeen, said 95% of the shares voted were in favour and that the board was pleased with the “overwhelming support” Aberdeen shareholders showed for the proposed merger.
“The two businesses’ investment capabilities and distribution channels are highly complementary and by combining them we are well positioned to compete in an evolving global market environment,” he added.
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