Nationwide Financial sets meeting date for merger, won't pay dividend in fourth quarter

By Lisa Kerner

Charlotte, N.C., Dec. 10 - Nationwide Financial Services, Inc. will hold a special meeting of stockholders on Dec. 31 to vote on the company's merger with Nationwide Corp., Nationwide Mutual Insurance Co. and NWM Merger Sub, Inc. (collectively Nationwide Mutual).

In August, Nationwide Mutual agreed to acquire all of the Nationwide Financial class A common stock it does not already own for $52.25 per share.

Nationwide Corp. owns 100,000 shares of Nationwide Financial's class A common stock as well as all of its outstanding class B common stock, or approximately 95.2% of the voting power of Nationwide Financial, according to a form 8-K filed with the Securities and Exchange Commission.

The merger is expected to close on Jan. 1.

Also in the filing, Nationwide Financial's board of directors announced that it will not declare a dividend on its class A common stock for the fourth quarter of 2008.

Nationwide Financial, based in Columbus, Ohio, is part of the Nationwide group of companies and offers diversified insurance and financial services.

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