Neuberger Berman California Intermediate Municipal Fund Inc., Neuberger Berman Income Opportunity Fund Inc. & Neuberger Berma...
19 Septembre 2009 - 1:20AM
Business Wire
Neuberger Berman California Intermediate Municipal Fund Inc.
(NYSE Amex: NBW), Neuberger Berman Income Opportunity Fund Inc.
(NYSE Amex: NOX), and Neuberger Berman Real Estate Securities
Income Fund Inc. (NYSE Amex: NRO) (each a “Fund” and collectively,
the “Funds”) each announced today the commencement of its
previously announced tender offers. NBW and NOX will each purchase
up to 10% of its outstanding shares of common stock and NRO will
purchase up to 5% of its outstanding shares of common stock. Each
Fund will purchase shares in its tender offer at a price equal to
98% of its net asset value per share determined on the date the
tender offer expires. Each tender offer commenced today, September
18, 2009, and will expire on October 16, 2009, at 5:00 p.m. EST, or
on such later date to which the offer is extended.
Additional terms and conditions of the tender offers are set
forth in the Funds’ tender offer materials, which will be
distributed to stockholders. If the amount of a Fund’s outstanding
common stock that is tendered exceeds the maximum amount of such
Fund’s offer, that Fund will purchase shares from tendering
stockholders on a pro rata basis (after taking into account ‘‘odd
lots’’ and with appropriate adjustment to avoid purchase of
fractional shares of common stock). Accordingly, stockholders
cannot be assured that a Fund will purchase all of their tendered
shares.
This announcement is not a recommendation, an offer to purchase
or a solicitation of an offer to sell shares of any Fund. A tender
offer will be made only by an offer to purchase, a related letter
of transmittal and other documents, which have been filed with the
Securities and Exchange Commission as exhibits to a tender offer
statement on Schedule TO and are available free of charge at
http://www.sec.gov and from the Fund by calling 877-461-1899.
Stockholders of each Fund should read the relevant offer to
purchase and tender offer statement on Schedule TO and related
exhibits as they will contain important information about the
tender offers.
About Neuberger Berman
Neuberger Berman Group LLC is one of the world’s largest
private, independent, employee-controlled asset management
companies. As of June 30, 2009, assets under management were
approximately $158 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 though 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 each Fund’s performance, a general downturn in the
economy, competition from other closed-end investment companies,
changes in government policy or regulation, inability of the Funds’
investment adviser to attract or retain key employees, inability of
each Fund to implement its investment strategy, inability of each
Fund to manage rapid expansion and unforeseen costs and other
effects related to legal proceedings or investigations of
governmental and self-regulatory organizations.
Neuberger Berman Income Opportunity Fund (AMEX:NOX)
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