BUSINESS LIVE: Abrdn and II deal nears; LadBible set for London float

BUSINESS LIVE: Abrdn and Interactive Investor deal nears; KMPG faces government contract ban; LadBible set for London float

British asset manager Abrdn is nearing a deal to buy DIY stock-picking platform Interactive Investor, with confirmation of the tie-up expected imminently, according to reports.

Abrdn shares jumped 2.2 per cent in late trading yesterday in response to speculation of a deal, which would see II operate independently within the asset manager and continue to be run 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 winner of public contracts in the year to March after Deloitte and PwC, with £244million of work.

Online ‘lads mag’ Lad Bible is set to float on the London stock market with a valuation of £360million.

To beef up credibility Lad Bible has hired Carol Kane, the co-founder of the online fashion site Boohoo, for its board. It will look to raise £30million from the offering.

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



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