Standard Life Plc, Scotland’s largest insurer, agreed to acquire Aberdeen Asset Management Plc for about 3.8 billion pounds , a deal that would create one of Europe’s biggest fund managers. Their stock soared.

Standard Life Plc, Scotland’s largest insurer, is in talks to acquire Aberdeen Asset Management Plc, creating one of Europe’s biggest fund managers overseeing 660 billion pounds . Under the terms of the potential deal, Standard Life shareholders would own 66.7 percent of the combined group, according to a joint statement on Saturday.