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A venerable City of London institution is being snapped up by a U.S. asset manager in a nearly $14 billion deal that comes amid growing fears that AI will severely disrupt the finance sector.
Chicago-based Nuveen said Thursday it had agreed to buy the U.K’s Schroders
UK:SDR, a 222-year-old London-headquartered asset manager for up to 612 pence per share, valuing the company at approximately £9.9 billion ($13.6 billion).