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Black&Callow significant in preparation for Standard Life Plc's £11bn all-share merger



In March 2017 Standard Life Plc, the global investment management company, announced it would be merging with Aberdeen Asset Management Plc in an £11bn deal.

Two months later, Black&Callow was mandated to produce and distribute the scheme documents for the recommended all-share merger.


Black&Callow was approached to produce the Scheme of Arrangement on Thursday 4th May, with a turnaround on the project needed Tuesday 9th May. The project came to Black&Callow at late notice, and so the team prepared to work against the clock to typeset, print, mail and distribute over 4,000 x 130pp Scheme documents and other shareholder documentation in a six-day period.


Black&Callow’s unparalleled in-house typesetting capacity ensured that the project began moving swiftly, and the team worked across the weekend to cater to the scope of the project and timeframe. They worked closely with Standard Life and its advisors to ensure that ongoing document changes were dealt with quickly, whilst the vast quantity of shareholder data was prepared and analysed for mailing and distribution.

The project quickly expanded to include production of seven different documents, which were all printed and posted within one day. On the 9th May, Black&Callow printed and posted over 4,000 130-page scheme documents and various additional personalised shareholder Proxies and Application Forms.

Mark Shennan, Black&Callow’s Associate Director commented, “I am delighted to report that the team at Black&Callow was appointed to assist with the shareholder documentation for this high-profile transaction. The team worked tirelessly within an accelerated timeframe to complete the project on time - I accredit our experienced and extensive in-house resource for this.”


  • Black&Callow’s project management expertise ensured that deadlines were organised between the team effectively. The project was put into motion as quickly as possible, whilst a flexible schedule was in place to accommodate any ongoing changes
  • With the largest in-house typesetting and proofreading capacity in Europe, Black&Callow produced the documentation in the agreed six-day timescale
  • With a 24/7 business operation, after documentation approval, the team were able to print and distribute over 4,000 documents in one day.
  • Black&Callow’s experience of working on complex and demanding M&A deal documentation over the years assured that they were prepared for any arising problems, and were capable of producing work to the highest standard.

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