Two Neuberger Berman Closed-End Funds Announce Stockholder Approval of Proposed Reorganization
02 Juli 2010 - 12:08AM
Business Wire
Neuberger Berman Income Opportunity Fund Inc. (NYSE Amex: NOX)
and Neuberger Berman High Yield Strategies Fund (NYSE: NHS) (each a
“Fund” and together, the “Funds”) announced that the stockholders
of each Fund have approved the proposal to reorganize each Fund
into a newly formed fund, named Neuberger Berman High Yield
Strategies Fund Inc. The new fund’s common stock is expected to be
listed on the NYSE Amex. The Funds currently anticipate that the
reorganization will be completed during the third quarter of 2010.
The Funds will issue another press release setting forth the timing
and details of the closing.
About Neuberger Berman
Neuberger Berman Group LLC is one of the world’s leading
private, independent, employee-controlled asset management
companies. As of March 31, 2010, assets under management were
approximately $180 billion. Established in 1939, Neuberger Berman
is a leader in a broad range of global investment solutions –
equity, fixed income, and alternatives – to institutions and
individuals through customized separately managed accounts, mutual
funds and alternative investment products. For more information
please visit our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such risks and uncertainties include, without limitation,
the adverse effect from a decline in the securities markets or a
decline in a Fund’s performance, a general downturn in the economy,
competition from other closed-end investment companies, changes in
government policy or regulation, inability of a Fund’s investment
adviser to attract or retain key employees, inability of a Fund to
implement its investment strategy, inability of a Fund to manage
rapid expansion and unforeseen costs and other effects related to
legal proceedings or investigations of governmental and
self-regulatory organizations.
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