Nuveen Announces Closing Date for Merger of Michigan Closed-End Funds
January 07 2013 - 9:00AM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that the reorganization of certain Nuveen Michigan
closed-end funds was completed prior to the opening of the New York
Stock Exchange on January 7, 2013. As part of a previously
announced reorganization, the funds have been merged as
follows:
Acquired Fund Symbol Acquiring
Fund Symbol
- Nuveen Michigan PremiumIncome Municipal Fund, Inc.
- Nuveen Michigan DividendAdvantage Municipal Fund
NMP
NZW
Nuveen Michigan QualityIncome Municipal
Fund,Inc.
NUM
In the mergers, NUM acquired substantially all of the assets and
liabilities of NMP and NZW in a tax-free transaction in exchange
for an equal aggregate value of newly-issued common shares. The
exchanges took place based upon the funds’ closing net asset values
on January 4, 2013. The exchange ratios at which common shares of
each acquired fund were exchanged for common shares of the
acquiring fund are listed below:
Fund Exchange Ratio
Nuveen Michigan Premium Income Municipal
Fund, Inc.(NMP)
0.96503389
Nuveen Michigan Dividend Advantage
Municipal Fund(NZW)
0.95647566
Additionally, MuniFund Term Preferred (MTP) and Variable
MuniFund Term Preferred (VMTP) shareholders of each acquired fund
received an equivalent number of newly issued MTP and VMTP shares
from the acquiring fund, with the same terms as their previous MTP
and 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, Symphony Asset Management, NWQ
Investment Management Company, Santa Barbara Asset Management,
Tradewinds Global Investors, Winslow Capital Management, and
Gresham Investment Management. In total, Nuveen Investments managed
approximately $220 billion as of September 30, 2012. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
Nuveen MI Prem (NYSE:NMP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Nuveen MI Prem (NYSE:NMP)
Historical Stock Chart
From Apr 2023 to Apr 2024
