Slaughter and May, Herbert Smith Freehills (HSF) and Ashurst have lined up to advise on FTSE 100 asset manager Schroders’ £424m takeover of rival Cazenove Capital.

As part of the deal, which was announced yesterday (25 March), Schroders - the largest listed asset management company in the UK – will recognise £395m as the acquisition cost and £29m as the effective future cost of deferred pay awards for Cazenove employees.