Nationwide has agreed to acquire Jefferson National.
Jefferson National will become a wholly owned subsidiary ofNationwide once Nationwide LifeInsurance Co. buys all of the Louisville, Ky.-based company'sstock. The deal will give Nationwide a wider sales network for its financialservice products and improve Jefferson National's ability to serve registeredinvestment advisers and fee-based advisers.
Terms of the transaction, which is expected to close earlyin 2017, were not disclosed.
Deloitte Corporate Finance LLC and Sutherland Asbill &Brennan LLP served as financial and legal advisers for Nationwide. RaymondJames & Associates and Sidley Austin LLP served as the financial and legaladvisers for Jefferson National.