Nuveen Announces Merger for Municipal Closed-End Funds
CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the reorganization of the Nuveen Municipal High Income Opportunity Fund (NYSE MKT: NMZ) and Nuveen Municipal High Income Opportunity Fund 2 (NYSE: NMD) was completed prior to the opening of the New York Stock Exchange on July 15, 2013. As part of a previously announced reorganization, the funds have been merged as outlined in the table below.
Nuveen Municipal High Income
Nuveen Municipal High
In the merger, NMZ acquired substantially all of the assets and liabilities of NMD in a tax-free transaction in exchange for an equal aggregate value of newly-issued common shares. The exchange took place based upon the fund's closing net asset value on July 12, 2013. The exchange ratio at which common shares of the acquired fund were exchanged for common shares of the acquiring fund is listed below:
Nuveen Municipal High Income Opportunity Fund 2
Additionally, Variable Rate MuniFund Term Preferred Shares (VMTP) shareholders of NMD received an equivalent number of newly issued VMTP shares from NMZ, with substantially the same terms as their previous VMTP shares.
Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—Nuveen Asset Management, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC, all of which are registered investment advisers and subsidiaries of Nuveen Investments, Inc. Funds distributed by Nuveen Securities, LLC., a subsidiary of Nuveen Investments, Inc. In total, Nuveen Investments managed approximately $224 billion as of March 31, 2013. For more information, please visit the Nuveen Investments website at www.nuveen.com.
Kristyna Munoz, (312) 917-8343
KEYWORDS: United States North America Illinois
The article Nuveen Announces Merger for Municipal Closed-End Funds originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.