PRESS DIGEST-Financial Times - February 13

Feb 13 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

• Schroders agrees 9.9 billion pound takeover by US investment manager Nuveen

• Sanofi replaces chief Paul Hudson with Merck executive after R&D woes

• BBC set to cut costs by about 10% in latest restructuring plan

• BAT warns of job cuts as it plans to 'simplify' and boost productivity

Overview

• Britain's Schroders SDR.L is being taken over by U.S. asset manager Nuveen for 9.9 billion pounds ($13.47 billion)in one of Europe's largest ever fund manager deals.

• Sanofi SASY.PA has replaced chief executive Paul Hudson with the head of German drugmaker Merck KGaA MRCG.DE, after the French drugmaker struggled to develop new treatments under his leadership.

• The BBC is planning to cut hundreds of millions of pounds from its annual budget, leading to job losses and "tough" decisions over future programming, under a new savings plan designed to make the national broadcaster financially sustainable for the future.

• British American Tobacco BATS.L said it was pursuing "productivity initiatives" that could lead to job cuts, as it reported rising profits and said the Velo nicotine pouch was gaining market share.

($1 = 0.7348 pounds)