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Nationwide Financial Services, Inc. Q2 2008 Earnings Call Transcript

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2008-08-07 18:37:13.0

Tags: Nationwide Financial Services Inc.

Question-and-Answer Session

[Operator Instructions]. The first question comes from Collin Devine of Citigroup. Please go ahead, sir

Colin Devine - Citigroup

Good morning, Mark.

Mark R. Thresher - President and Chief Operating Officer

Good morning, Colin.

Colin Devine - Citigroup

A couple of questions. As we've got first, can you confirm there wasn't outside actual appraisal done on in that fashion what that might have revealed as a potential evaluation figure? Second, I was curious as there were any outside offers for the company?

Mark R. Thresher - President and Chief Operating Officer

There was an actual real appraisal done. And what I have been told those sets that was not part of negotiations that to the extend if that was used by Lazard and the special community in their deliberations, that information will be disclosed in the proxy. The... as far as outside... any party solicitations for us, the answer is no. Nationwide Mutual made it pretty clear that they were interested in their first offer and we've been told that they were not contracted by anybody during the period.

Colin Devine - Citigroup

Okay. And then my follow-up, unless I've mistaken the CEO of Nationwide Mutual is also the CEO Jerry Jurgenson, I wonder if Jerry is available this morning to talk about that, since I presume given the deal happy ways that he would be aware of what the actual appraisal reveled.

Mark R. Thresher - President and Chief Operating Officer

Actually, I mean Jerry sat on the other side of the transactions in a similar position that I did, Collin. He actually did not have direct involvement in the negotiations. I'm not sure, so I would... don't believe he is aware of the details of that either because he really wasn't involved in negotiations on either side.

Colin Devine - Citigroup

Now that it's done. I'm curious why he is not. Is he available this morning? And if not, where is he?

Mark R. Thresher - President and Chief Operating Officer

I am not sure...

Colin Devine - Citigroup

So, the bottom line is he is not available for his own conference call.

Mark R. Thresher - President and Chief Operating Officer

Well, Collin in these conference call, as you know, historically I handle the calls. Since he was not involved specifically in the negotiations, the conclusion was he wouldn't add to the discussion.

Colin Devine - Citigroup

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