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Madison Dearborn Partners-led investor group to acquire Nuveen Investments21/06/2007. Source: AltAssets. 
 An investor group led by Chicago-based Madison Dearborn Partners has agreed to acquire Nuveen Investments, a provider of investment services to institutional and high-net-worth investors, in a $6.3bn transaction, including existing debt of $550m.
Nuveen Investments stockholders would receive $65 in cash for each share of Nuveen Investments common stock they own, representing a premium of 20 per cent over the closing price of Nuveen Investments' shares on 19 June 2007, and a 26 per cent premium to the 90-day average closing price of $51.56, according to a statement.
Nuveen Investments' board of directors has approved the transaction and recommends that stockholders support it.
Timothy M Hurd, a managing director for Madison Dearborn Partners, said, 'In its 109-year history, Nuveen Investments has created one of the best known, most highly trusted brands in the investment management industry. We fully support Nuveen Investments' growth strategies and our objective is to provide additional resources and flexibility to strengthen the company's long-term strategic development. We believe that supporting the business in this way will sustain a very positive environment for high-performing professionals to excel and prosper.'
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