Abrdn to delay shareholder vote after running out of paper
Abrdn to delay shareholder vote on takeover of Interactive Investor… because it has run out of paper due to the supply chain crunch
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Fund manager Abrdn will delay a shareholder vote on its takeover of stock-trading platform Interactive Investor after running out of paper.
Under City rules, the FTSE 100 firm needs to send paper versions of relevant documents to shareholders before a planned vote on the £1.5billion merger.
However, with over 1m retail investors, Abrdn has run short due to a global supply chain crunch.
Old school: Under City rules, Abrdn needs to send paper versions of relevant documents to shareholders before a planned vote on the £1.5billion merger
The group had hoped to give shareholders a say on the deal ahead of its annual results early next month.
But now the vote will not happen until around two weeks after, Sky News reported yesterday.
