Nuveen California Municipal Value Fund Inc T.NCA

Primary Symbol: NCA

Nuveen California Municipal Value Fund, Inc. (the Fund) is a diversified closed-end management investment company. The Fund's investment objective is to seek current income exempt from both regular federal income taxes and California personal income tax. Its secondary investment objective is the enhancement of portfolio value. The Fund invests in municipal securities that are exempt from federal and California state income taxes. The Fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade or, if they are unrated, are judged by the manager to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. It also invests in inverse floating rate municipal securities. Its investment adviser is Nuveen Fund Advisors, LLC.

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Nuveen California Municipal Value Fund Inc > ANF undervalued?

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Post by bargainhunter6on Oct 25, 2017 5:07pm

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Post# 26858695

ANF undervalued?

Alrighty,

Under the terms of the Agreement, Trek Mining will acquire all outstanding shares of NewCastle and Anfield at a share exchange ratio of 0.873 Trek Mining shares for each NewCastle share (the "NewCastle Exchange Ratio") and 0.407 Trek Mining shares for each Anfield share (the "Anfield Exchange Ratio")....upon completion of the Arrangement, former Trek Mining shareholders will own 44% of Equinox Gold, former NewCastle shareholders will own 44% and former Anfield shareholders will own 12%.

The current share prices are:
NCA: 0.84 (203m shares)
TREK:1.07 (177m shares)
ANF: 0.42 (119m shares)

So, my understanding is that NCA and ANF will be converted to Trek shares and then NCA and Trek shareholders will own 44% of the company. What I'm trying to figure out is if NCA is undervalued. Anyone care to comment?

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