ClearBridge MLP And Midstream Fund Inc. Announces Final Results of Issuer Tender Offer for Common Stock and Anticipated Date of Merger
2024年6月21日 - 9:00PM
ビジネスワイヤ(英語)
ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) (the “Fund”)
announced today the final results for its issuer tender offer for
up to 50% of the outstanding shares of common stock (“Shares”) of
the Fund (the “Tender Offer”). The Tender Offer expired on
Thursday, June 20, 2024 at 5:00 p.m., New York City time.
The Fund accepted 5,807,371 duly tendered and not withdrawn
Shares, representing approximately 44% of the Fund’s outstanding
Shares. The Shares accepted for tender were repurchased at a price
of $49.60 per Share, equal to 100% of the per Share net asset value
as of the close of the regular trading session of the New York
Stock Exchange on June 20, 2024. Shares that were not tendered will
remain outstanding.
Payment for such Shares will be made on or about June 25, 2024.
Shares that were not tendered will remain outstanding.
Any questions about the tender offer can be directed to
Georgeson LLC, the information agent for the tender offer, toll
free at (866) 920-4920.
As previously announced on January 26, 2024, the Fund’s Board of
Directors approved a proposal to merge (i) the Fund with and into
ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO), and
(ii) ClearBridge MLP and Midstream Total Return Fund Inc. (NYSE:
CTR) with and into EMO (each, a “Merger”), subject to approval by
stockholders of each of CEM, CTR and EMO. On May 20, 2024, EMO, CEM
and CTR announced stockholder approval of each Merger. It is
currently anticipated that each Merger will be effective before
markets open on Monday, August 19, 2024, subject to all regulatory
requirements and customary closing conditions being satisfied.
About the Fund
The Fund is a non-diversified, closed-end management investment
company that is managed by Franklin Templeton Fund Adviser, LLC
(formerly known as Legg Mason Partners Fund Advisor, LLC) (“FTFA”),
and subadvised by ClearBridge Investments, LLC (“ClearBridge”).
FTFA and ClearBridge are both indirect wholly-owned subsidiaries of
Franklin Resources, Inc., a global investment management
organization operating as Franklin Templeton.
THIS PRESS RELEASE IS NOT A PROSPECTUS, CIRCULAR OR
REPRESENTATION INTENDED FOR USE IN THE PURCHASE OR SALE OF FUND
SHARES. THIS PRESS RELEASE MAY CONTAIN STATEMENTS REGARDING PLANS
AND EXPECTATIONS FOR THE FUTURE THAT CONSTITUTE FORWARD-LOOKING
STATEMENTS WITHIN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT ARE
FORWARD-LOOKING AND CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS
“MAY,” “WILL,” “EXPECT,” “ANTICIPATE,” “ESTIMATE,” “BELIEVE,”
“CONTINUE” OR OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING STATEMENTS
ARE BASED ON THE FUND’S CURRENT PLANS AND EXPECTATIONS, AND ARE
SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS
TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING
STATEMENTS. ADDITIONAL INFORMATION CONCERNING SUCH RISKS AND
UNCERTAINTIES ARE CONTAINED IN THE FUND’S FILINGS WITH THE
SECURITIES AND EXCHANGE COMMISSION.
For more information about the Fund, please call Fund Investor
Services: 1-888-777-0102, or consult the Fund’s web site at
www.franklintempleton.com/investments/options/closed-end-funds. The
information contained on the Fund’s web site is not part of this
press release. Hard copies of the Fund’s complete audited financial
statements are available free of charge upon request.
About Franklin Templeton
Franklin Resources, Inc. is a global investment management
organization with subsidiaries operating as Franklin Templeton and
serving clients in over 150 countries. Franklin Templeton’s mission
is to help clients achieve better outcomes through investment
management expertise, wealth management and technology solutions.
Through its specialist investment managers, the company offers
specialization on a global scale, bringing extensive capabilities
in fixed income, equity, alternatives and multi-asset solutions.
With more than 1,500 investment professionals, and offices in major
financial markets around the world, the California-based company
has over 75 years of investment experience and over $1.6 trillion
in assets under management as of May 31, 2024. For more
information, please visit franklintempleton.com and follow us on
LinkedIn, X and Facebook.
Category: Fund Announcement Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
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version on businesswire.com: https://www.businesswire.com/news/home/20240621125046/en/
Investor: Fund Investor Services 1-888-777-0102
Media: Lisa Tibbitts +1 (904) 942-4451
Lisa.Tibbitts@franklintempleton.com
ClearBridge MLP and Mids... (NYSE:CTR)
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