Special Opportunities Fund Reaches Settlement With Delaware Enhanced Global Dividend and Income Fund
Special Opportunities Fund, Inc. (NYSE: SPE) today announced that it has entered into a standstill agreement with Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX) in connection with the proposed reorganization of DEX into abrdn Global Dynamic Dividend Fund (NYSE: AGD)
SADDLE BROOK, N.J.--(BUSINESS WIRE)--Dec 6, 2022--
Special Opportunities Fund, Inc. (NYSE: SPE) today announced that it has entered into a standstill agreement with Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX) in connection with the proposed reorganization of DEX into abrdn Global Dynamic Dividend Fund (NYSE: AGD).
Among other things, the agreement provides for DEX to conduct a tender offer to purchase up to 30% of its issued and outstanding common shares contingent on shareholder approval of the proposed reorganization at a price equal to 98% of its net asset value per share.
Phillip Goldstein, Chairman of SPE and a managing partner of Bulldog Investors, LLP, SPE’s investment advisor, stated: “We think the contingent tender offer is fair to all shareholders of DEX and we urge them to vote in favor of the proposed reorganization.”
