Western Asset Global Partners Income Fund Inc. (NYSE:GDF) Announces Approval of Merger
August 15 2016 - 7:00AM
Business Wire
Western Asset Global Partners Income Fund Inc. (NYSE:GDF) today
announced the results of the votes cast at GDF’s re-convened
Special Shareholder Meeting held on Friday, August 12, 2016.
GDF Shareholders voted to approve the merger of GDF with and
into Western Asset Global High Income Fund Inc. (NYSE:EHI).
EHI Shareholders previously voted to approve the merger of GDF
with and into EHI at EHI’s Special Shareholder Meeting held on
Friday, July 22, 2016. The merger is expected to be effective prior
to the opening of business on Monday, August 29, 2016.
Upon completion of the merger, each share of common stock of GDF
will convert into an equivalent dollar amount (to the nearest
$0.001) of full shares of common stock of EHI, based on the net
asset value of each Fund on the business day preceding the merger.
EHI will not issue fractional shares to GDF stockholders. In lieu
of issuing fractional shares, EHI will pay cash to each former
holder of GDF common stock in an amount equal to the net asset
value of the fractional shares of EHI common stock that the
investor would otherwise have received in the merger.
Each Fund is a non-diversified closed-end management investment
company managed by Legg Mason Partners Fund Advisor, LLC, a wholly
owned subsidiary of Legg Mason, Inc., and sub-advised by Western
Asset Management Company, Western Asset Management Company Limited,
and Western Asset Management Company Pte. Ltd., affiliates of the
investment adviser. Western Asset Global Partners Income Fund Inc.
is also sub-advised by Western Asset Management Company Ltd, an
affiliate of the sub-adviser.
For more information, please call 1-888-777-0102, or consult the
Funds’ website at www.lmcef.com. Hard copies of each Fund’s
complete audited financial statements are available free of charge
upon request.
THIS PRESS RELEASE IS NOT AN OFFER TO PURCHASE NOR A
SOLICITATION OF AN OFFER TO SELL SHARES OF THE FUND. 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
CURRENT PLANS AND EXPECTATIONS OF THE FUND, 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
OR WILL BE CONTAINED IN THE FUND’S FILINGS WITH THE SECURITIES AND
EXCHANGE COMMISSION.
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Media:Legg Mason, Inc.Maria Rosati
(212)-805-6036mrosati@leggmason.com
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