Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:$1.3B Purchase of New Nuveen Sibling is Complete Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 1, 2013

$1.3B Purchase of New Nuveen Sibling is Complete

Reported by Tommy Fernandez

Madison Dearborn Partners, the private equity parent of Nuveen [profile] is complete.

Under the terms of the deal, announced in April, NFP stockholders will receive $25.35 for each share of NFP common stock they own, in a deal with an equity value of approximately $1.3 billion. The transaction includes the full value of NFP's convertible debt.

NFP stockholders voted to approve the transaction at a special meeting of stockholders held on June 19, 2013. Under private ownership, NFP's common stock will no longer be listed or traded on the New York Stock Exchange.

Here is the press release:
Company Press Release

Madison Dearborn Partners Completes NFP Acquisition



NEW YORK, July 1, 2013 -- National Financial Partners Corp. ("NFP"), a leading provider of benefits, insurance and wealth management services, today announced the successful completion of its acquisition by a controlled affiliate of Madison Dearborn Partners, LLC, a private equity investment firm. 

Pursuant to the terms of the previously announced merger agreement, NFP stockholders will receive $25.35 in cash (without interest and less any applicable withholding taxes) for each share of NFP common stock they own, in a transaction with an equity value of approximately $1.3 billion, which includes the full value of NFP's convertible debt.

NFP stockholders voted to approve the transaction at a special meeting of stockholders held on June 19, 2013. Under private ownership, NFP's common stock will no longer be listed or traded on the New York Stock Exchange.

About NFP

?National Financial Partners Corp., and its benefits, insurance and wealth management businesses provide diversified advisory and brokerage services to companies and high net worth individuals, partnering with them to preserve their assets and prosper over the long term. NFP advisors provide innovative and comprehensive solutions, backed by NFP's national scale and resources. NFP operates in three business segments. The Corporate Client Group provides corporate and executive benefits, retirement plans and property and casualty insurance. The Individual Client Group includes retail and wholesale life insurance brokerage and wealth management advisory services. The Advisor Services Group serves independent financial advisors by offering broker/dealer and asset management products and services. Most recently NFP was ranked eighth on Business Insurance's 100 Largest Brokers of U.S. Business; second on Business Insurance's Largest Agents and Brokers Headquartered in the U.S. Northeast; and as the ninth Top Global Insurance Broker by Best's Review; it operates the third largest executive benefits provider of nonqualified deferred compensation plans by total clients as ranked by PlanSponsor; operates a top 10 independent broker/dealer as ranked by Investment Advisor; and has three advisors ranked in Barron's Top 100 Independent Financial Advisors. NFP is also a leading independent life insurance distributor according to many top-tier carriers.  For more information, visit www.nfp.com.

About Madison Dearborn Partners

?Madison Dearborn Partners, based in Chicago, is a leading private equity investment firm in the United States. Since Madison Dearborn's formation in 1992, the firm has raised six funds with aggregate capital of over $18 billion and has completed approximately 125 investments. Madison Dearborn invests in businesses across a broad spectrum of industries, including financial and transaction services; basic industries; business and government services; consumer; health care; and telecom, media and technology services. Its noteworthy investments include CapitalSource, Nuveen Investments, PayPal, TransUnion, and EVO Payments. For more information, please visit www.mdcp.com.
 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use