Company: NMZ
Filing Date: 2025-09-29
Form Type: N-14 8C
Source: 0001999371-25-014188
Chunk: 169

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-09-29
Form: N-14 8C
Chunk 169
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 an open-end investment company or to approve
transactions constituting a plan of reorganization which adversely affects the holders of preferred shares are higher than those
required by the 1940 Act. The Acquiring Fund’s Board believes that the provisions of the Acquiring Fund’s declaration
of trust relating to such higher votes are in the best interests of the Acquiring Fund.

In addition, the Acquiring Fund’s
by-laws require the Board be divided into three classes with staggered terms. This provision of the by-laws could delay for up
to two years the replacement of a majority of the Board. Holders of preferred shares, voting as a separate class, are entitled
to elect two of the Acquiring Fund’s trustees. In addition, the by-laws contain various provisions relating to the qualifications
for trustees and requirements for the nomination by shareholders of the Fund’s trustees, and a provision requiring a majority
vote of shareholders to elect trustees in a contested election, all of which could make it more difficult for shareholders to nominate
and elect trustees not nominated by the Fund’s existing trustees.

The provisions of the Acquiring Fund’s
declaration of trust and by-laws described above could have the effect of depriving the common shareholders of opportunities to
sell their common shares at a premium over the then-current market price of the common shares by discouraging a third party from
seeking to obtain control of the Acquiring Fund in a tender offer or similar transaction. The overall effect of these provisions
is to render more difficult the accomplishment of a merger or the assumption of control by a third party. However, they provide
the advantage of potentially requiring persons seeking control of the Acquiring Fund to negotiate with its management regarding
the price to be paid and facilitating the continuity of the Acquiring Fund’s investment objectives and policies. The Acquiring
Fund’s Board has considered the foregoing anti-takeover provisions and concluded that they are in the best interests of the
Acquiring Fund.

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The Acquiring Fund’s declaration of
trust provides that shareholders will have no right to acquire, purchase or subscribe for any shares or securities of the Acquiring
Fund, other than such right, if any, as the Acquiring Fund’s Board in its discretion may determine.

Procedural Requirements on Derivative Actions, Exclusive Jurisdiction and Jury Trial Waiver

The by-laws of the Acquiring Fund contain
certain provisions affecting potential shareholder claims against the Fund, including procedural requirements for derivative actions,