Schroders agrees £9.9bn takeover by US investor

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Schroders has stated that a U.S. investor has agreed to a £9.9 billion acquisition, thereby ending two centuries of family ownership of the historic English heritage group.

Chicago's Nuveen said on Thursday that it had purchased the city-based company, and the deal will create one of the world's largest financial managers, managing around $2.5 trillion (£1.8 trillion) in assets.

The acquisition deal ends two centuries of the group's independence, with London still remaining the largest office, with around 3,100 employees, and retaining the Schroders brand.

The deal would result in another FTSE 100 company being removed from the London Stock Exchange, increasing concerns about the competitiveness of the UK market. In recent years, companies including the food service company Just Eat, the betting group Flutter, and Europe's largest travel company Tui have delisted in favor of U.S. and European markets. founded in 1804, Hamburg by financial manager Johann Schröder.Schroders agrees £9.9bn takeover by US investor, ending 200 years of family ownership, reports the Guardian.