The deal creates a global asset manager with roughly £1.8 trillion in assets under management and keeps the Schroders brand intact after the merger.

The broader business landscape covers topics like UK export finance, rising US deficits, pub costs, and corporate leadership/capital restructuring.

Schroders has pursued cost-cutting and strategic shifts, exiting a Lloyds joint venture and retreating from Brazil and Indonesia to boost performance amid pressure from US rivals.

The transaction follows UK Takeover Code rules and English-law governing terms, with the joint announcement outlining the deal’s structure.

BNP Paribas acts as Nuveen’s financial adviser and Clifford Chance as legal adviser; the release notes forward-looking statements and the non-binding nature of the announcement.

The merger aims to create a leading public-to-private platform with broader geographic reach, diversified products, and enhanced talent to serve wealth and institutional clients.

London will serve as the combined group’s non-US headquarters, underscoring a major consolidation in the asset-management sector and boosting the city’s role in global finance.

UK GDP grew modestly by 0.1% in December, with annual growth at 1.3%, services stagnating, manufacturing contributing, and construction posting the weakest performance in over four years.

Nuveen will acquire Schroders for about £9.9 billion, delivering £5.90 per Schroders share plus up to 22 pence per share in anticipated dividends.

Relx CEO emphasizes AI as a core driver for value and growth, even as legal tech faces competition from AI-enabled services.

Market outlook suggests FTSE 100 gains, with a positive opening and sentiment supported by takeover news; US indices show a mixed picture.

FTSE 100 climbs more than 1% on the takeover news and is expected to hold above 10,500 as trading begins.