Schroders to be acquired by Nuveen for 9.9bn

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Schroders to be acquired by Nuveen for 9.9bn

privateequitywire

5 months ago

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UK asset manager Schroders has agreed to a £9.9bn takeover by US investment manager Nuveen, according to a report by the Financial Times, following a series of approaches from the Chicago-based group.
Schroders’ board has backed a 612p-per-share offer, under which shareholders will receive 590p in cash plus a 22p dividend. Shares in the FTSE 100 firm jumped 29% to 589p on Thursday.
The deal brings together Schroders, which oversees £824bn of assets, with Nuveen, which manages around $1.4tn, larg...

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