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Western Asset Middle Market Income Fund (XWMFX) has concluded an issuer tender offer for 2.5% of its outstanding shares, with 13,954 shares tendered, surpassing the 4,577 shares earmarked for purchase. As a result, shares will be bought on a pro rata basis, and approximately 42.6% of each tendering shareholder's shares will be accepted. The purchase price is set at $629.07 per share, corresponding to the net asset value as of April 5, 2021. Payments for accepted shares are expected to be processed by April 7, 2021.
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Western Asset Middle Market Income Fund (XWMFX) announced a tender offer to purchase up to 2.5% of its outstanding shares for cash, with an option to buy an additional 2%. The tender offer will be based on the net asset value per share on the expiration date, which is expected to be April 5, 2021. The tender offer will begin around March 5, 2021, and stockholders will be notified according to relevant regulations. The announcement emphasizes that it is not an offer to purchase but outlines future documentation that will detail the tender offer.
Western Asset Middle Market Income Fund (XWMFX) announced the conclusion of its tender offer to buy back 4,786 Shares, representing 2.5% of its outstanding stock. The offer, which expired on January 6, 2021, was oversubscribed with 18,220 Shares tendered. Due to this oversubscription, Shares will be purchased on a pro-rata basis, with approximately 44% of tendered Shares accepted. Shares were priced at $616.90, the net asset value as of the offer's expiration. Payment is expected around January 8, 2021.
Summary not available.
Western Asset Middle Market Income Fund (XWMFX) shareholders approved a new management agreement and subadvisory agreements during a Special Meeting, following the acquisition of Legg Mason by Franklin Resources. The new agreements were required due to the automatic termination of existing contracts post-Transaction. The Fund's management and subadvisers have been providing services under interim agreements since the acquisition. This change aims to continue supporting the Fund's operations without disruption. Investors are reminded that investments can involve risks including loss of principal.