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# Nuveen agreed £9.9bn cash takeover of Schroders
- URL: https://www.theglobalbanker.com/nuveen-agreed-9-9bn-cash-takeover-of-schroders/
- Published: 2026-02-12T10:00:00.000Z
- Updated: 2026-09-29T10:19:32.000Z
- Description: The TIAA-owned asset manager agreed to buy the London-listed fund house for £5.90 a share, creating a combined business with nearly $2.5 trillion of assets under management.
- Author: TGB Editorial Team
- Tags: M&A, Europe, Americas, #archive

Nuveen, the asset manager wholly owned by TIAA, agreed on 12 February 2026 to acquire Schroders plc in a recommended cash deal valuing the London-listed fund manager at £9.9 billion, or about $13.5 billion.

Under the terms, Schroders shareholders were to receive £5.90 per share in cash, and were also entitled to retain permitted dividends of up to 22 pence per share before completion. The £9.9 billion total comprised £9.5 billion of cash consideration plus those dividends. The Schroders board unanimously recommended the offer.

#### NEARLY $2.5 TRILLION COMBINED

The combination brings together Nuveen, with $1.4 trillion of assets under management, and Schroders, with $1.1 trillion, to create a group with nearly $2.5 trillion in assets under management for institutional and wealth clients.

The Principal Shareholder Group Trustee Companies, four private trust entities associated with the Schroder family that held approximately 41% of Schroders shares, irrevocably committed to vote in favour of the deal. Directors holding Schroders shares gave similar irrevocable undertakings.

#### LONDON ROLE AND LEADERSHIP

The companies said London would serve as the combined group's non-US headquarters, with more than 3,100 professionals, and that Schroders would continue to operate as a standalone business within the wider Nuveen group for at least 12 months after completion. Richard Oldfield was to remain chief executive of Schroders, reporting to Nuveen chief executive William Huffman and joining Nuveen's executive management team.

The transaction, conducted under the UK Takeover Code, was subject to approval by Schroders shareholders and to antitrust and regulatory clearances. Completion was expected in the fourth quarter of 2026.