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ClearBridge MLP Funds Announce Proposed Mergers and Updates for Tender Offers [Yahoo! Finance]

ClearBridge MLP and Midstream Total Return Fund Inc. (CTR) 
Company Research Source: Yahoo! Finance
Inc. (NYSE: EMO), ClearBridge MLP and Midstream Total Return Fund Inc. (NYSE: CTR) (individually, a "Fund" and collectively, the "Funds") announced today approval by each Fund's Board of Directors of a proposal to merge (i) CEM with and into EMO and (ii) CTR with and into EMO, subject to approval by stockholders of each Fund. The approval of each individual merger is not contingent upon the approval of the other merger. If approved, the mergers are expected to occur during the third quarter of 2024. If the proposed mergers are approved by the stockholders of each Fund, (i) common stockholders of CEM and CTR would receive shares ("Shares") of common stock of EMO, based on each Fund's respective net asset value ("NAV") per share and (ii) holders of CEM's and CTR's mandatory redeemable preferred stock ("MRPS") would receive shares of MRPS of EMO with the same aggregate liquidation preference and terms to their respective MRPS. In lieu of issuing fractional shares of common stock, EMO w Show less Read more
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