ClearBridge Midstream Funds Announce Merger Timing Update
NEW YORK--(BUSINESS WIRE)--August 15, 2024--
ClearBridge Energy Midstream Opportunity Fund Inc. $(EMO)$, ClearBridge MLP and Midstream Fund Inc. $(CEM)$ and ClearBridge MLP and Midstream Total Return Fund Inc. $(CTR)$ (individually, a "Fund" and collectively, the "Funds") today announced updated timing for the mergers of CEM and CTR with and into EMO (the "Mergers" or each, a "Merger").
Currently, it is anticipated that the Mergers will be effective before markets open on or about Monday, September 9, 2024, subject to all regulatory requirements and customary closing conditions being satisfied.
As previously announced on January 26, 2024, each Fund's Board of Directors approved the Mergers. On May 20, 2024, EMO, CEM and CTR announced stockholder approval of each Merger. More recently, the Funds determined that a closing date of September 9, 2024 would be more efficient from an operational perspective.
Each of EMO, CEM and CTR is a non-diversified, closed-end management investment company 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.
For more information, please call Investor Relations on 1-888-777-0102, or consult each Fund's website at www.franklintempleton.com/investments/options/closed-end-funds. 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 FUNDS. 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 EACH 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 IS CONTAINED IN EACH FUND'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.
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 July 31, 2024. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.
Category: Fund Announcement
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
View source version on businesswire.com: https://www.businesswire.com/news/home/20240815060789/en/
CONTACT: Investor Contact: Fund Investor Services 1-888-777-0102
Media Contact: Lisa Tibbitts
+1 (904) 942-4451
Lisa.Tibbitts@franklintempleton.com
(END) Dow Jones Newswires
August 15, 2024 08:00 ET (12:00 GMT)
Comments