Nuveen Agrees to Acquire Schroders in $13.5 Billion Deal, Boosting Assets Under Management to $2.5 Trillion

Schroders' shares surged after Nuveen agreed to acquire the UK asset manager in a $13.5 billion deal, boosting the US buyer's assets under management to nearly $2.5 trillion. The takeover will significantly expand Nuveen's presence in the global asset management market.