London -British financial services provider Standard Life said Monday that it was in "advanced" talks to purchase fund manager Ignis from owner Phoenix Group.
The Edinburgh-based firm confirmed the talks after weekend newspaper reports suggested it had tabled a bid of $660m.
"Standard Life plc notes recent press speculation and confirms that it is in exclusive and advanced discussions with Phoenix Group Holdings regarding a potential acquisition of Ignis Asset Management," it said in a statement, but gave no indication of price.
"Discussions are on-going and there can be no certainty that any transaction will be agreed."
The group added that it would make further announcements if and when appropriate.