Schroders has agreed to a £9.9 billion takeover by US investment manager Nuveen, ending the independence of one of the City of London's most historic names. The deal marks a significant shift in the UK asset management landscape, bringing an end to Schroders' 200-year legacy as an independent firm.

The acquisition values Schroders at approximately £9.9 billion ($12.5 billion), representing a major premium over recent trading prices. Nuveen, which manages over $1 trillion in assets, sees the deal as a strategic move to expand its global footprint and enhance its product offerings. The transaction is expected to create a combined entity with over $1.4 trillion in assets under management.

This merger signals continued consolidation in the asset management industry as firms seek scale to compete with larger rivals and navigate challenging market conditions. For Schroders, the deal represents the end of an era for one of London's most storied financial institutions. The transaction is subject to regulatory approval and shareholder consent, with completion expected