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Nuveen buys Schroders for US$13.5bn as consolidation heats up

US-based asset manager Nuveen has agreed to acquire British money manager Schroders in a deal that will create one of the world’s largest active asset managers, with close to US$2.5 trillion in combined assets.   The acquisition is valued at £9.9 billion (US$13.5 billion), according to an announcement on Thursday. The deal is financed through the cash resources of Nuveen’s parent…

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