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US: Financial services firm TIAA-CREF spends billions in largest-ever acquisition

 |  April 14, 2014

Financial services giant TIAA-CREF has reportedly struck a deal to acquire Nuveen Investments in a deal estimated to be worth $6.25 billion, the largest-ever acquisition for the company.

According to reports, the buyout would pull the company into the top ranks of US mutual funds. The company specializes in the educational and non-profit sectors.

Reports say following the merger Nuveen would remain a separate subsidiary within TIAA-CREF’s asset management operations. TIAA-CREF will acquire the company from its current owner, a private equity group, which acquired Nuveen nearly seven years ago, reports say.

Full Content: USA Today

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