UK's Schroders pops 28% on Nuveen takeover that's set to create asset management giant

Core Viewpoint - The acquisition of Schroders by Nuveen will create one of the largest asset management groups globally, significantly impacting the fund management industry [1][2]. Group 1: Acquisition Details - Nuveen, the investment management arm of TIAA, will acquire Schroders for £9.9 billion ($13.5 billion) [1]. - The acquisition price is set at up to 612 pence per share [1]. Group 2: Market Impact - Following the announcement, shares of Schroders increased by over 28% in morning trading [2]. - The combined entity will manage nearly $2.5 trillion in assets, including $414 billion in private markets assets [2].