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Aberdeen backs away from formal bid for rival

Aberdeen Asset Management considered buying rival fund manager Henderson Group earlier this year, but decided against a formal bid.

The Scottish fund manager approached Henderson shareholders in May and organised financing for a deal.

An Aberdeen spokesman declined to comment but said yesterday: “Aberdeen is working to integrate the Deutsche Asset Management business bought last year, but will consider opportunities when they arise.”

References: Daily Telegraph 26/08/06 page 33

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