abrdn’s US Closed-End Funds Announce Closing Date for Acquisition of Assets of Four Delaware Management Company-Advised Closed-End Funds
PHILADELPHIA, PA / ACCESSWIRE / December 22, 2022 / The Board of Trustees of each Acquiring Fund, listed below, announces that the proposed reorganization of several closed-end investment companies (each an “Acquired Fund”) advised by Delaware Management Company into the respective Acquiring Fund (“Reorganizations”) will each be completed by the open of business on the New York Stock Exchange on Monday, March 13, 2023, subject to the satisfaction of customary closing conditions.
|Acquired Fund||Acquiring Fund|
|Delaware Ivy High Income Opportunities Fund ("IVH")||abrdn Income Credit Strategies Fund ("ACP")|
|Delaware Enhanced Global Dividend and Income Fund ("DEX")||abrdn Global Dynamic Dividend Fund ("AGD")|
|Delaware Investments® Dividend and Income Fund, Inc. ("DDF")|
|Macquarie Global Infrastructure Total Return Fund Inc. ("MGU")||abrdn Global Infrastructure Income Fund ("ASGI")|
To facilitate the Reorganizations, all shares of IVH, DEX, DDF and MGU will cease trading on the New York Stock Exchange as of market close on Friday, March 10, 2023 and Acquired Fund shareholders will be issued new issued shares of the respective Acquiring Fund. The Reorganizations will each occur based on the relative net asset values of the common shares of the Acquired Funds.
Each Reorganization is expected to benefit each fund’s shareholders in a number of important ways, providing greater opportunities to realize economies of scale by combining the funds’ assets resulting in a larger fund. Additionally, each Reorganization is expected to help ensure the viability of the resulting Combined Fund by increasing scale, liquidity and marketability of the fund.
In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited., abrdn Australia Limited, abrdn Asia Limited, Aberdeen Capital Management, LLC, abrdn ETFs Advisors LLC and abrdn Alternative Funds Limited.
The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Closed-end funds are traded on the secondary market through one of the stock exchanges. Each Acquiring Fund’s investment return and principal value will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund’s portfolio. There is no assurance that each Acquiring Fund will achieve its investment objective. Past performance does not guarantee future results.
If you wish to receive this information electronically, please contact Investor.Relations@abrdn.com
For More Information Contact:
abrdn U.S. Closed-End Funds
SOURCE: abrdn U.S. Closed-End Funds
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