Asset Management

Nuveen will acquire Schroders for £9.9 billion ($13.5 billion), offering shareholders up to 612 pence per share—a 34% premium to Schroders’ last close. The deal would create a group managing nearly $2.5 trillion in assets. Schroders CEO Richard Oldfield will remain, reporting to Nuveen CEO William Huffman. The transaction requires shareholder and regulatory approval.