Business
Offer for Schroders plc
Nuveen, through its subsidiary Bidco, has agreed to acquire Schroders plc for up to 612 pence per share, comprising 590 pence in cash and up to 22 pence in permitted dividends, valuing the company at approximately £9.9 billion. This offer represents a significant premium to Schroders' recent share prices, with the cash component alone being 29% above the closing price on February 11, 2026. The acquisition is expected to create one of the world's largest active asset managers with nearly $2.5 trillion in assets under management, leveraging complementary strengths and enhancing geographic reach. The boards of both Nuveen and Schroders have agreed to the terms, with the Schroders board unanimously recommending the transaction to its shareholders, and the deal is anticipated to complete in the fourth quarter of 2026. Disclaimer*
About this update from Schroders Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n12 February 2026\nRecommended Cash Acquisition\nof\nSchroders plc (\"Schroders\")\nby\nPantheon, LLC (\"Bidco\")\na newly incorporated subsidiary of Nuveen, LLC (\"Nuveen\"), a Teachers Insurance and Annuity Association of America (\"TIAA\") company\n\n\n\n\n• \n\n\nThe board of Nuveen and the board of Schroders are pleased to announce that they have agreed the terms of a recommended cash acquisition by Bidco to acquire the entire issued and to be issued share capital of Schroders.\n\n\n\n\n• \n\n\nUnder the terms of the Transaction, each Schroders Shareholder will be entitled to receive a total value of up to 612 pence per Schroders Share. This comprises:\n§ Cash Consideration of 590 pence per Schroders Share; and\n§ Permitted Dividends of up to 22 pence (in aggregate) per Schroders Share, which Schroders Shareholders may receive and retain if declared or paid prior to the Effective Date without any reduction to the Cash Consideration.\n\n\n\n\n• \n\n\nThe Cash Consideration represents a premium of approximately:\n§ 29 per cent. to the Closing Price of 456 pence per Schroders Share on 11 February 2026 (being the last Business Day before this announcement);\n§ 42 per cent. to the volume-weighted average price of 417 pence per Schroders Share for the three-month period ended on 11 February 2026; and\n§ 55 per cent. to the volume-weighted average price of 381 pence per Schroders Share for the twelve-month period ended on 11 February 2026.\n\n\n\n\n• \n\n\nIf the Permitted Dividends are declared and paid in full, the Transaction values the entire issued and to be issued share capital of Schroders at approximately £9.9 billion on a fully diluted basis and represents a premium of approximately:\n§ 34 per cent. to the Closing Price of 456 pence per Schroders Share on 11 February 2026 (being the last Business Day before this announcement);\n§ 47 per cent. to the volume-weighted average price of 417 pence per ...