UBS has downgraded Schroders (SDR) to a neutral rating from buy, following Nuveen's £9.9 billion all-cash acquisition proposal. The US asset manager values the UK's largest listed fund house at 612 pence per share, representing a 34% premium over Schroders' closing price on February 11th. The proposed deal requires 75% shareholder approval and is expected to finalize in Q4 2026. Nuveen has secured commitments from 42% of shares, including the Principal Shareholder Group Trustee Companies, the Schroders family, and the board itself. The combined entity would manage $2.5 trillion in assets, with significant allocations in equities ($735 billion), fixed income ($613 billion), and private markets ($414 billion).
Source: Investing.com News · Summarized by HeadlinesBriefing