Update: Schroders agrees £424m offer for Cazenove

Dan Jones
25 March 2013

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Schroders has agreed a £424m cash offer for Cazenove Capital in a deal that significantly strengthens its private banking, wealth management and funds businesses.

Cazenove's £17.2bn in assets under management will push Schroders' total AUM to £229.2bn, adding £5.1bn to its funds business and creating a £28.4bn private banking business. The acquisition will cost...

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