Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Saba Capital Reaches Agreement with Certain ClearBridge Funds By: Saba Capital Management, L.P. via Business Wire December 26, 2023 at 08:00 AM EST ClearBridge MLP and Midstream Fund, ClearBridge MLP and Midstream Total Return Fund, and ClearBridge Energy Midstream Opportunity Fund to Each Commence Cash Tender Offers for 50% of Their Shares at 100% of NAV Saba Capital Management, L.P. and certain associated parties (collectively “Saba” or “we”) today announced that it has entered into a cooperation agreement with Franklin Templeton Fund Adviser, LLC (formerly known as Legg Mason Partners Fund Advisor, LLC) and the following funds that it advises: ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM), ClearBridge MLP and Midstream Total Return Fund Inc. (NYSE: CTR), ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO), and LMP Capital and Income Fund Inc. (NYSE: SCD) (collectively, the “ClearBridge Funds”). Under the terms of the agreement, three of the ClearBridge Funds – ClearBridge MLP and Midstream Fund Inc., ClearBridge MLP and Midstream Total Return Fund Inc., and ClearBridge Energy Midstream Opportunity Fund Inc. – each shall commence tender offers to purchase a maximum of 50% of their outstanding shares of common stock in cash. The tender offers provide all shareholders the opportunity to tender some or all of their common shares at a price equal to 100% of net asset value per share as determined as of the close of the regular trading session of the New York Stock Exchange on the next trading day after the expiration date of the original or extended tender offer. The terms of the agreement provide for Saba rescinding its nominees for director and shareholder proposals at each Fund’s next shareholder meeting and voting in favor of a merger between or among the ClearBridge Funds during its standstill period. About Saba Capital Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, the Firm is a pioneer of credit relative value strategies and capital structure arbitrage. The Firm is headquartered in New York City. Learn more at www.sabacapital.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231226221503/en/Contacts Longacre Square Partners Greg Marose / Kate Sylvester, 646-386-0091 gmarose@longacresquare.com / ksylvester@longacresquare.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Saba Capital Reaches Agreement with Certain ClearBridge Funds By: Saba Capital Management, L.P. via Business Wire December 26, 2023 at 08:00 AM EST ClearBridge MLP and Midstream Fund, ClearBridge MLP and Midstream Total Return Fund, and ClearBridge Energy Midstream Opportunity Fund to Each Commence Cash Tender Offers for 50% of Their Shares at 100% of NAV Saba Capital Management, L.P. and certain associated parties (collectively “Saba” or “we”) today announced that it has entered into a cooperation agreement with Franklin Templeton Fund Adviser, LLC (formerly known as Legg Mason Partners Fund Advisor, LLC) and the following funds that it advises: ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM), ClearBridge MLP and Midstream Total Return Fund Inc. (NYSE: CTR), ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO), and LMP Capital and Income Fund Inc. (NYSE: SCD) (collectively, the “ClearBridge Funds”). Under the terms of the agreement, three of the ClearBridge Funds – ClearBridge MLP and Midstream Fund Inc., ClearBridge MLP and Midstream Total Return Fund Inc., and ClearBridge Energy Midstream Opportunity Fund Inc. – each shall commence tender offers to purchase a maximum of 50% of their outstanding shares of common stock in cash. The tender offers provide all shareholders the opportunity to tender some or all of their common shares at a price equal to 100% of net asset value per share as determined as of the close of the regular trading session of the New York Stock Exchange on the next trading day after the expiration date of the original or extended tender offer. The terms of the agreement provide for Saba rescinding its nominees for director and shareholder proposals at each Fund’s next shareholder meeting and voting in favor of a merger between or among the ClearBridge Funds during its standstill period. About Saba Capital Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, the Firm is a pioneer of credit relative value strategies and capital structure arbitrage. The Firm is headquartered in New York City. Learn more at www.sabacapital.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231226221503/en/Contacts Longacre Square Partners Greg Marose / Kate Sylvester, 646-386-0091 gmarose@longacresquare.com / ksylvester@longacresquare.com
ClearBridge MLP and Midstream Fund, ClearBridge MLP and Midstream Total Return Fund, and ClearBridge Energy Midstream Opportunity Fund to Each Commence Cash Tender Offers for 50% of Their Shares at 100% of NAV
Saba Capital Management, L.P. and certain associated parties (collectively “Saba” or “we”) today announced that it has entered into a cooperation agreement with Franklin Templeton Fund Adviser, LLC (formerly known as Legg Mason Partners Fund Advisor, LLC) and the following funds that it advises: ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM), ClearBridge MLP and Midstream Total Return Fund Inc. (NYSE: CTR), ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO), and LMP Capital and Income Fund Inc. (NYSE: SCD) (collectively, the “ClearBridge Funds”). Under the terms of the agreement, three of the ClearBridge Funds – ClearBridge MLP and Midstream Fund Inc., ClearBridge MLP and Midstream Total Return Fund Inc., and ClearBridge Energy Midstream Opportunity Fund Inc. – each shall commence tender offers to purchase a maximum of 50% of their outstanding shares of common stock in cash. The tender offers provide all shareholders the opportunity to tender some or all of their common shares at a price equal to 100% of net asset value per share as determined as of the close of the regular trading session of the New York Stock Exchange on the next trading day after the expiration date of the original or extended tender offer. The terms of the agreement provide for Saba rescinding its nominees for director and shareholder proposals at each Fund’s next shareholder meeting and voting in favor of a merger between or among the ClearBridge Funds during its standstill period. About Saba Capital Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, the Firm is a pioneer of credit relative value strategies and capital structure arbitrage. The Firm is headquartered in New York City. Learn more at www.sabacapital.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20231226221503/en/
Longacre Square Partners Greg Marose / Kate Sylvester, 646-386-0091 gmarose@longacresquare.com / ksylvester@longacresquare.com