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Slide #4. Minnesota Municipal Income Portfolio Inc. — First American Minnesota Municipal Income Fund II, Inc.
Acquirer:
Minnesota Municipal Income Portfolio Inc. (MXA)
Acquiree:
First American Minnesota Municipal Income Fund II, Inc. (MXN)
Details:
Minnesota Municipal Income Portfolio Inc. (NYSE MKT:MXA) and First American Minnesota Municipal Income Fund II, Inc. (NYSE MKT:MXN) (each a "Fund" and, collectively, the "Funds") today announced that their Board of Directors has approved a proposal to merge the Funds into a newly organized closed-end fund (the "Combined Fund") managed by Nuveen Fund Advisors, LLC and sub-advised by Nuveen Asset Management, LLC, both current sub-advisors of the Funds. The proposal will be submitted to shareholders of each 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 each Fund vote in favor of the merger for their Fund, which would allow shareholders to maintain their investments in a fund that would have a larger asset base.
Minnesota Municipal Income Portfolio is a nondiversified, closed-end management investment company. The Fund invests primarily in Minnesota municipal securities that, at the time of purchase, are rated investment-grade or are unrated and deemed to be of comparable quality by U.S. Bancorp Asset Management, Inc. The Fund's investments may include municipal derivative securities, such as inverse floating-rate and inverse interest-only municipal securities. As of Aug 31 2012, the Fund's total assests compised of $99,193,895 and its investment portfolio totaled $98,108,126.
Open the MXA Page at The Online Investor »
Minnesota Municipal Income Portfolio is a nondiversified, closed-end management investment company. The Fund invests primarily in Minnesota municipal securities that, at the time of purchase, are rated investment-grade or are unrated and deemed to be of comparable quality by U.S. Bancorp Asset Management, Inc. The Fund's investments may include municipal derivative securities, such as inverse floating-rate and inverse interest-only municipal securities. As of Aug 31 2012, the Fund's total assests compised of $99,193,895 and its investment portfolio totaled $98,108,126.
Open the MXN Page at The Online Investor »
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