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flag Nuveen to acquire UK’s Schroders in £9.9B all-cash deal, ending its 222-year independence.

flag U.S. asset manager Nuveen has agreed to acquire UK-based Schroders in a £9.9 billion ($13.5 billion) all-cash deal, ending the 222-year history of the family-owned firm as an independent entity. flag The transaction, which values Schroders at 612p per share with a 29% premium, will create a global asset manager with nearly $2.5 trillion in assets under management. flag The merged firm will retain the Schroders brand, keep London as its main non-U.S. hub, and operate as a standalone business for at least a year under Nuveen’s ownership, with CEO Richard Oldfield remaining in place. flag The deal, pending regulatory and shareholder approval, marks a major consolidation in the asset management industry and follows recent performance challenges at Schroders, including client outflows. flag The company’s shares surged nearly 30% after the announcement, and the FTSE 100 reached a record high amid renewed investor confidence in UK financial markets.

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