Shareholders vote on £11bn merger set to cost 800 jobs

Standard Life (LON:SL) could be poised to merge with rival Scottish Widows, The Sunday Times has revealed.

The deal, which is set to create an asset management giant named Standard Life Aberdeen, will be voted on by shareholders today and, subject to shareholder approval, is expected to be completed by August.

Standard Life Aberdeen will be headed Martin Gilbert, left, and Keith Skeoch.

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Lloyds has already pledged its shares in support of Aberdeen's tie-up with Standard Life unveiled earlier this year.

1 arrested after vehicle strikes pedestrians in London
He said as he attended the injured, others grappled with the driver as he tried to run away. "He had a tattoo on his back". The van driver, a 48-year-old man, has been arrested at the scene by the police after being detained by members of public.

Skeoch was also asked about where the deal left Standard's annuity business and replied the company had not ruled out selling it.

"Scottish Widows has largely shaken off its auto-enrolment woes and by the end of 2017, Lloyds Banking Group will have spent £70 million on upgrading Scottish Widows' digital proposition".

"It is the intention that the combined group will explore ways in good faith to build a successful relationship with Lloyds for the benefit of their respective customers, businesses, shareholders and other stakeholders". This potential acquisition seems likely to be investment led - after Aberdeen's acquisition of the SWIP book there will be substantial investment management synergies and close ties remain through Lloyds Banking Group's 10% stake in Aberdeen.

Lloyds, which has recently returned fully to private ownership, sold the fund management business of Widows to AAM three years ago.

However, Lloyds has agreed to delay making a decision in relation to the exercise of such termination rights or withdrawals until six months from the date of completion of the merger.