Court Approves Nuveen's Cash Bid for Schroders; Trading Suspension Looms

Nuveen LLC said Tuesday that a court has sanctioned its recommended cash acquisition of Schroders plc (SDR.L), clearing the final legal hurdle for the deal. The Scheme of Arrangement takes effect when the court order is delivered to the Registrar of Companies, expected October 1, 2026. Applications have been filed to suspend trading of Schroders shares on the London Stock Exchange's main market and to remove the stock from the Financial Conduct Authority's Official List. Schroders shares last traded at 589.00 pence, up 0.08 percent in London. The approval ends a process that will see the U.S. asset manager, through its Bidco subsidiary, take the British fund manager private. Delisting would follow the suspension, completing one of the largest recent takeovers of a UK-listed asset manager.