Schroders, Cazenove In Takeover Talks

Mar 22 2013 | 11:46am ET

Schroders is in talks to buy rival British fund manager Cazenove Capital Management.

Both firms confirmed that they are in talks about a deal. Schroders has until April 19 to announce whether it will make an offer, which would be either in cash or loan notes.

Cazenove, which is employee-owned, has about £18.7 billion in assets under management.

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