February 16, 2026 | Financials | Europe | Active
Back in July 2025, Schroders’ CEO, Richard Oldfield, dismissed suggestions that the Schroder family, with its 44.4% equity stake, was looking to exit, adamantly stating there was “no intention of the family to sell”. However, fast forward to 12-Feb-26, and Schroders has agreed to be bought by Nuveen for £9.9bn, thereby ending the independence of one of the City of London’s most iconic names. Part of Teachers Insurance and Annuity Association of America (“TIAA”), a retirement savings group, Nuveen is offering 590p per Schroders share plus up to 22p per share in permitted dividends. This represents a 34% one-day takeover premium, including permitted dividends, equivalent to 17x Schroders’ FY’25 after-tax adjusted operating profit. Funding will come from existing cash at TIAA and a £3.1bn debt facility. Alongside the announcement, Schroders proposed a final dividend of 15p per share for FY’25 and the firm intends to declare an interim dividend of 7p per share for the six months ending 30-Jun-26. Any dividends above 22p per share will allow Nuveen to reduce the cash consideration on a pound-for-pound basis. The deal is structured as a UK court-sanctioned scheme of arrangement, requiring 75% approval at both the General Meeting (votes cast) and Court Meeting (scheme shares voted). Schroders’ board said it views the terms as delivering “attractive” and “certain value” versus the company’s standalone path, and it intends to unanimously recommend the scheme. So far, Nuveen has secured irrevocable undertakings covering 671m shares, or 42% of Schroders’ share capital, from the principal shareholder trustee companies ...
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