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Nuveen Mortgage Closed-End Funds Announce Alternate Proposals

Nuveen Mortgage and Income Fund (JLS) 
Company Research Source: Business Wire
NEW YORK--(BUSINESS WIRE)-- The Board of Trustees of Nuveen Mortgage Opportunity Term Fund (NYSE: JLS) and Nuveen Mortgage Opportunity Term Fund 2 (NYSE: JMT) have approved a series of proposals that will allow shareholders the opportunity to maintain their exposure to securitized credit. In light of the upcoming scheduled termination of each fund, these alternate proposals, which replace a previously announced merger proposal, asks shareholders of each fund to vote to amend the charter and eliminate the term structure. For each fund, if the fund’s charter amendment and the other proposals described below are approved by shareholders, the fund will conduct a tender offer for up to 100 percent of its outstanding shares at NAV. If the fund’s managed assets taking into account shares properly tendered in the tender offer would be $80 million or greater, the tender offer will be completed and the fund’s term structu Show less Read more
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