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Nuveen agrees to buy Schroders for $13.5 billion
The deal includes a 34% premium to shareholders and will create a global asset manager with $2.5 trillion in assets under management, retaining Schroders' London headquarters.
- On Thursday, Schroders accepted a $13.5 billion cash offer from Nuveen at 612p per share, a 29% premium to last night's close and 34% including the dividend.
- Nuveen CEO William Huffman said, `This transaction is about unlocking new growth opportunities for wealth and institutional investors around the world by giving our leading, differentiated public-to-private platform a broader global presence.`
- Shares in Schroders jumped over 28% to a 52-week high in morning trade after Nuveen announced its $13.5 billion acquisition, creating one of the world's largest asset managers.
- Schroders will remain headquartered in London, maintaining its brand and managing about 824 billion in assets, underscoring its significance in the financial sector.
- The deal will create a group with almost $2.5 trillion in assets under management, including $414 billion in private markets assets, following the $13.5 billion transaction.
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54 Articles
The sale decision comes after a difficult decade for Schroders, as the rise of low-cost passive investing has reshaped the asset management sector.
·Brazil
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A billion-dollar takeover could change the asset manager's market. After more than two centuries, the British asset manager loses its independence.
·Düsseldorf, Germany
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Coverage Details
Total News Sources54
Leaning Left3Leaning Right2Center7Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
58% Center
L 25%
C 58%
R 17%
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