Nuveen agrees to buy Schroders for $13.5 billion

Group 1 - Nuveen has agreed to acquire British firm Schroders for £9.9 billion ($13.5 billion), creating a combined entity with nearly $2.5 trillion in assets under management [1] - Shareholders of Schroders will receive 590 pence per share in cash, along with permitted dividends of up to 22 pence [1] - Richard Oldfield, the CEO of Schroders, will continue to lead the firm post-acquisition, with London designated as the non-U.S. headquarters for the combined group [1]