Western Asset Global High Income Fund (EHI) to absorb sister fund GDF via merger
Both closed-end funds' boards approved a proposal to merge Western Asset Global Partners Income Fund into Western Asset Global High Income Fund, subject to stockholder approval of each fund. If approved, the merger is expected in the second quarter of 2016, and GDF stockholders would receive EHI common stock based on each fund's net asset value per share. The filing states the boards believe the combination may bring economies of scale and greater diversification for stockholders.
- Merger proposal approved by both funds' boards on November 16, 2015, subject to stockholder votes
- Anticipated closing in the second quarter of 2016 if approved
- As of September 30, 2015, GDF had total assets of about $207 million and EHI about $469 million