Posts with tag NuveenInvestments
Posted Aug 10th 2007 12:10PM by Paul Foster
Filed under: Deals, The Blackstone Group, KKR, Texas Pacific Group, The Carlyle Group, Madison Dearborn Partners
CDW Computer Centers (NASDAQ: CDWC) volatility Flat as Arbitrage spread widens. CDWC is recently down 47 cents to $83.31. CDWC, a direct marketer of multi-brand information technology products and services, agreed to be acquired by Madison Dearborn for $7.3 billion cash, or $87.75 on May 30. CDWC September option implied volatility of 9 is near its 10-week average according to Track Data, suggesting flat risk.
TXU Corp (NYSE: TXU) volatility Elevated as Arbitrage spread widens. TXU, manager of a portfolio of energy business in Texas, is recently down $1.57 to $61.96. KKR & Texas Pacific announced in February the acquisition of TXU for $69.25. The deal is expected to close by year's end. TXU October option implied volatility of 30 is above its 23-week average of 13 according to Track Data, suggests large price fluctuation risk.
Nuveen Investments (NYSE: JNC) volatility at 18 into expected Autumn deal close. JNC, a provider of diversified investment services to institutional and high-net-worth investors, is recently down 80 cents to $60.40. Madison Dearborn Partners announced on June 19 the acquisition of JNC for $65 cash. JNC shareholders will meet on September 18 to vote on the proposed acquisition. JNC overall option implied volatility of 17 is near its 7-week average of 15 according to Track Data, suggesting flat risk.
Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
Posted Jun 20th 2007 12:00PM by Tom Taulli
Filed under: Deals, Madison Dearborn Partners
Back in 1898, John Nuveen started the firm
Nuveen Investments (NYSE:
JNC) to trade municipal bonds. It was a smart move. Now, the firm is a big player in the asset management space, with about $165 billion in assets under management.
Well, soon Nuveen will no longer be a public company. It
announced today that private equity firm
Madison Dearborn Partners LLC has agreed to a $5.42 billion buyout.
Interestingly enough, Nuveen wants to do the transaction so as to have more flexibility in pursuing its long-term growth goals. After all, it can be distracting to deal with the mind-numbing regulations of Sarbanes-Oxley and also the quarter-by-quarter pressures of Wall Street analysts.
No doubt, Nuveen's business is growing nicely. In fiscal Q1, net income increased 17% to $52.3 million.
On the news of the deal, shares of Nuveen spiked 17.15% to $63.45. The current buyout bid is $65.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.BloggingBuyouts is provided for informational purposes only. Nothing on the service is intended to provide personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter. You are solely responsible for any investment decisions that you make. The contributors who provide the content of BloggingBuyouts may, from time to time, hold positions in the securities discussed at the time of writing and they may trade for their own accounts. Such holdings will be disclosed at the time of writing. By using the site, you agree to abide to BloggingBuyouts' Terms of Use.
