MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, July 17, 2007 Will Waddell & Reed go the Way of Nuveen? 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. Printed from: MFWire.com/story.asp?s=15075 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |