Nuveen to buy Schroders for £9.9bn, ending 200 years of family control
Chicago-based Nuveen will acquire Schroders for £9.9bn, creating a combined manager with about $2.5tn of assets while keeping Schroders’ London base and brand, and removing another firm from the FTSE 100.
- Nuveen will pay £9.9bn or 612p a share, made up of 590p in cash and a 22p dividend.
- The deal values the Schroder family’s 44% stake at about £4.4bn and ends two centuries of family ownership dating to 1804.
- The combined group would control roughly $2.5tn in assets under management.
- Schroders will keep London as its largest office with about 3,100 staff and retain its Schroders branding.
- The offer needs shareholder approval and is expected to complete in the fourth quarter of 2026.
- The takeover raises fresh concerns about the competitiveness of the London Stock Exchange as more FTSE 100 firms delist.