Nuveen receives regulatory approval to acquire Schroders for £9.9bn
What happened
Nuveen confirmed it has received regulatory approval to acquire Schroders. The takeover is valued at £9.9bn, and the fund groups stated that all conditions regarding antitrust and regulatory approvals have been met. The acquisition is expected to finalize on October 1, provided the court approves the transaction at a sanction hearing on September 29.
Why it matters
The acquisition fundamentally changes the ownership and corporate control of Schroders. The transaction represents a major shift in the asset management sector, which is valued at £9.9bn.
Who's involved
- SchrodersAsset management company being acquired
- Richard OldfieldBritish company director
- London & Associated PropertiesProperty Corporation whose joint venture terms might be altered by the ownership change
- Lloyds Banking GroupBritish financial institution whose transactional relationship with Schroders might be altered
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- London & Associated PropertiesSpeculative
The change in Schroders' ownership could alter the terms and financial backing of the joint venture.
- Lloyds Banking GroupSpeculative
The change in Schroders' ownership might alter the transactional relationship previously held.
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The entities involved
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Schroders
asset management company