Aberdeen Asset Management shares hit an all-time high yesterday as Scotland's financial dealmaker Martin Gilbert went back on the acquisition trail, splashing out £46 million for two businesses that will add £13 billion to group assets.
Mr Gilbert, whose 30-year-old creation has been sitting on £266m of cash, said the deals were "infill acquisitions that will assist with growing our business organically".
The shares were among the FTSE-100's biggest risers, up 8p at 424p, valuing Aberdeen at just less than £5bn, seven times its value in the depths of the split-cap crisis which almost sunk the group a decade ago.
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