US investment firm Nuveen buys UK asset manager Schroders in multi-billion dollar deal

US investment manager Nuveen has agreed to acquire UK asset manager Schroders in a deal valued at £9.9 billion (approximately $13.5 billion). The takeover will see Schroders become part of the larger US firm. Separately, four partners have left the accounting firm EY after breaches of independence rules during an audit of Shell.