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Rating:Will Waddell & Reed go the Way of Nuveen? Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, July 17, 2007

Will Waddell & Reed go the Way of Nuveen?

by: Erin Kello

Waddell & Reed may be the next fund firm targeted for a buyout by private equity. Reuters reports that the firm's stock leaped ahead 5.45 percent to a five-year high on Friday after being upgraded by an analyst to a "strong buy." Buckingham Research Group Inc. analyst William Katz confirmed the upgrade, saying it was only due to the fact that the stock was undervalued. However, an options strategist who saw the report said it mentioned the possibility of Waddell & Reed being the target of a private equity buyout. Last month, a private equity group led by Chicago-based Madison Dearborn Partners announced a deal to buy Nuveen Investments.  

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