Schroders has published a ‘timetable of principle events’ ahead of its acquisition by Nuveen, on the London Stock Exchange this morning (22 September).
The sanction hearing will be held on the 29 September. Subject to receiving sanction of the court, the acquisition is expected to formally take place on 1 October.
See also: Schroders books £8.3bn net outflow as Nuveen takeover rumbles on
The last day for investors to buy or sell shares in Schroders will therefore be on 30 September, with all dealings in the company’s shares being suspended from 7.30am the following morning.
Nuveen’s proposed acquisition of Schroders for £9.9bn led to the firm’s share price jumping by 30% on the day of its announcement. US-headquartered Nuveen, which has more than $1.2trn in assets under management, agreed to the cash acquisition through its subsidiary firm Bidco.
