LONDON, July 7, 2026, 11:08 BST
- Schroders PLC LON:SDR ended unchanged at 587p in late London trading, hovering near Nuveen’s 590p per share cash offer.
- The European Commission said July 6 it cleared Nuveen’s acquisition. Schroders has also agreed to sell Benchmark to Söderberg & Partners.
- LSEG/Investors Chronicle is showing a median 12-month target of 590p, high end at 612p and low at 420p.
Schroders PLC LON:SDR stock stayed close to Nuveen’s takeover offer on Tuesday. The Benchmark advice unit sale did more to tidy up the balance sheet than to drive the share price.
The stock held steady at 587p, unchanged from the open. Volume was 3.37 million shares. FTSE 100 rose 0.45% in delayed Reuters data.
The deal comes down to simple math now. Nuveen is offering Schroders holders 590p in cash, and up to 22p in permitted dividends. The 15p final dividend from Schroders went ex in March and was paid in April. So holders now look to the 590p cash payout and possibly a 7p interim dividend, if that’s declared before the deal closes.
| Deal measure | Pence per share | Gap to 587p | Read-through |
|---|---|---|---|
| Nuveen cash leg | 590p | +3p / +0.5% | Cash spread mostly closed |
| Cash leg plus possible 7p interim | 597p | +10p / +1.7% | Relay on if dividend paid soon |
| Original headline value | 612p | +25p / +4.3% | Rolls in all dividends up to 22p |
The spread is key because for buyers the big issue is timing rather than new earnings news. Nuveen got the go-ahead from the European Commission for the takeover on July 6, under EU merger rules. Back in February, Schroders said in its offer that the deal should close in the fourth quarter, pending approvals and other conditions.
Schroders said Monday it’s selling its Benchmark financial planning business, which serves mass-affluent customers, to Sweden’s Söderberg & Partners. No terms were released. Reuters, by way of London South East, said Söderberg oversees £108 billion in assets under advice. Schroders will also act as long-term asset manager for Söderberg.
Oliver Gregson, who leads wealth management at Schroders, said the Benchmark sale “further sharpens our focus” and will help the firm back clients and markets “where we have the strongest right to win.” Phil Middleton, who runs Schroders’ client group for the UK, Middle East and Africa, said staying linked with Söderberg Partners keeps Schroders near “a significant advice-led wealth platform.” Portfolio Adviser
Schroders has now done most of its planned wealth changes ahead of Nuveen’s closing. Out is a chunk of its UK mass-affluent advice, in is more Cazenove Capital and global wealth. Shareholders backed the 9.9 billion pound Nuveen deal in April, with Reuters reporting 99.9% support.
Analyst forecasts still outline a standalone earnings story, though these numbers could be less relevant if the takeover wraps up as planned. MarketScreener adjusted its numbers for the new group structure, projecting net sales of 2.684 billion pounds for 2026 and 2.805 billion pounds in 2027. Earnings per share are forecast at 32.16p in 2026, rising to 38.72p in 2027.
| Schroders forecast | 2025 actual | 2026 est. | 2027 est. | 2028 est. |
|---|---|---|---|---|
| Net sales | £2.590 bln | £2.684 bln | £2.805 bln | £2.968 bln |
| EBIT | £756.6 mln | £788.8 mln | £854.0 mln | £914.4 mln |
| Net income | £539.8 mln | £530.7 mln | £639.6 mln | £732.2 mln |
| EPS | 33.60p | 32.16p | 38.72p | 42.64p |
| Dividend per share | 21.50p | 21.68p | 22.32p | 23.62p |
The forecast table sheds some light on why the shares aren’t moving like a typical asset manager. LSEG data on Investors Chronicle put nine analysts at a median target of 590p, basically matching Nuveen’s cash offer. WSJ/FactSet has six holds, no buys, no sells for the current rating mix.
