Western Asset Middle Market Income Fund Inc. (XWMFX) Announces Tender Offer
Western Asset Middle Market Income Fund Inc. (XWMFX) announced a tender offer to buy back up to 2.5% of its outstanding common shares, with an option for an additional 2%. The tender offer is set to begin around December 3, 2021, and is expected to expire on January 5, 2022. The buyback price will be based on the fund’s net asset value per share at expiration. This offer will be in compliance with relevant regulations and will be officially filed with the SEC upon commencement.
- Approval for a tender offer to buy back up to 2.5% of outstanding shares may support stock price stability and investor confidence.
- The tender offer indicates potential concerns about the fund's share liquidity or demand in the market.
The tender offer will be made, and the stockholders of the Fund will be notified, in accordance with the Securities Exchange Act of 1934, as amended, the Investment Company Act of 1940, as amended, and other applicable rules and regulations. The tender offer described in this announcement has not yet commenced. This announcement is not an offer to purchase or a solicitation of an offer to buy shares of the Fund. The tender offer will be made only by an Offer to Purchase, a related Letter of Transmittal, and related documents. As soon as the tender offer commences, the Fund will file a tender offer statement on Schedule TO with the
Hard copies of the Fund’s complete audited financial statements are available free of charge upon request. Franklin Resources and its affiliates do not engage in selling shares of the Fund.
THIS RELEASE IS NOT A PROSPECTUS, CIRCULAR OR REPRESENTATION INTENDED FOR USE IN THE PURCHASE OR SALE OF FUND SHARES. 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 THE 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 ARE CONTAINED IN THE FUND’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.
For more information, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com.
© 2021
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/20211111005560/en/
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Source: Franklin Resources, Inc. and Legg Mason Closed End Funds
FAQ
What is the purpose of the tender offer by Western Asset Middle Market Income Fund Inc. (XWMFX)?
When will the tender offer for XWMFX commence and expire?
What will be the purchase price in the tender offer for XWMFX?
Who manages Western Asset Middle Market Income Fund Inc. (XWMFX)?