"The Footsie has scaled fresh heights, as demand for London-listed assets intensifies. The mega takeover of Schroders by US institutional investor Nuveen demonstrates how overseas players are sniffing out untapped value in UK companies. The acquisition will create an asset management behemoth and, thanks to the decision to locate the merged company in London, adds shine to the City's reputation as a leader in global asset and wealth management."
"This will go down as a week of huge upheaval for the UK asset management landscape, with this mega deal arriving just as valuations had taken a hit over worries about AI disruption. This takeover demonstrates the allure UK assets hold and has helped boost shares in other wealth managers and banks. There's also been a fair amount of bargain hunting after yesterday's dramatic falls."
The FTSE 100 surged as demand for London-listed assets intensified, driven by Nuveen's planned £9.9 billion acquisition of Schroders that lifted Schroders shares about 28%. The deal will create a large asset management group headquartered in London and has improved sentiment across other wealth managers and banks. The removal of big listed names through takeovers limits availability of public equities and increases interest in private market opportunities. RELX reported operating profit up 9% and highlighted AI integration as a growth driver, which aided market sentiment. UK GDP growth remained weak at 0.1% for December, undershooting expectations.
Read at London Business News | Londonlovesbusiness.com
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