Financial M&A » By The Online Investor Staff, updated Mon., Jan. 24, 1:01 PM
Recent mergers and acquisitions in the Financial M&A category.
| This Slide: #24 of 100 |
Slide #24. American Municipal Income Portfolio Inc. — Nuveen Investment Quality Municipal Fund, Inc.
Acquirer:
American Municipal Income Portfolio Inc. (XAA)
Acquiree:
Nuveen Investment Quality Municipal Fund, Inc. (NQM)
Details:
American Municipal Income Portfolio Inc. (NYSE:XAA) (the "Fund") today announced that its Board of Directors has approved a proposal to merge the Fund into Nuveen Investment Quality Municipal Fund, Inc. (NYSE:,NQM), a closed-end fund managed by Nuveen Fund Advisors, LLC and sub-advised by Nuveen Asset Management, LLC, both current sub-advisors of the Fund. The proposal will be submitted to shareholders of the Fund for a vote at a Special Meeting of Shareholders anticipated to be held during the third quarter of 2014. The Board recommends that shareholders of the Fund vote in favor of the merger, which would allow shareholders to maintain their investments in a fund that would have a higher allocation to investment grade bonds and a larger asset base.
American Municipal Income Portfolio is a diversified, closed-end management investment company. The Fund's investment objective is to provide high current-income exempt from regular federal income tax, consistent with preservation of capital. The Fund's income may be subject to state or local tax and the federal alternative minimum tax. Distributions of capital gains will be taxable to shareholders. As of Aug 31 2013, the Fund had total investment portfolio of $120,048,156 and total assets of $122,312,625.
Open the XAA Page at The Online Investor »
American Municipal Income Portfolio is a diversified, closed-end management investment company. The Fund's investment objective is to provide high current-income exempt from regular federal income tax, consistent with preservation of capital. The Fund's income may be subject to state or local tax and the federal alternative minimum tax. Distributions of capital gains will be taxable to shareholders. As of Aug 31 2013, the Fund had total investment portfolio of $120,048,156 and total assets of $122,312,625.
Open the NQM Page at The Online Investor »
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