Key Developments: Western Asset High Income Opportunity Fund Inc (HIO)
5.86USD
19 Jun 2013
$-0.05 (-0.85%)
$5.91
$5.90
$5.93
$5.82
230,239
224,997
$6.84
$4.72
Latest Key Developments (Source: Significant Developments)
Western Asset High Income Opportunity Fund Inc Announces Management Change-Form 8-K
Western Asset High Income Opportunity Fund Inc reported in its Form 8-K announcing the retirement of R. Jay Gerken as director, Chairman, Chief Executive Officer (CEO) and President of certain closed-end funds advised by Legg Mason Partners Fund Advisors, LLC (LMPFA), effective June 1, 2013, and announcing the appointment of Kenneth D. Fuller as a member of the Board of Directors of each respective closed-end fund, effective June 1, 2013. In addition, the Board of Directors of each respective closed-end fund has appointed Mr. Fuller as the Chairman, Chief Executive Officer (CEO) and President of each closed-end fund. Full Article
Western Asset High Income Fund Inc and Western Asset High Income Opportunity Fund Inc. Announce Board Approval Of Proposed Merger Plan
Western Asset High Income Fund Inc and Western Asset High Income Opportunity Fund Inc announced approval by each Fund`s Board of Directors of a proposal to merge Western Asset High Income Fund Inc. with and into Western Asset High Income Opportunity Fund Inc., subject to approval by stockholders of Western Asset High Income Fund Inc. If approved by stockholders of Western Asset High Income Fund Inc., the merger is anticipated to occur by the end of the second quarter of 2013. Western Asset High Income Fund Inc. and Western Asset High Income Opportunity Fund Inc. have near identical investment objectives. Each Fund`s primary investment objective is to seek and maintain a high level of current income. As a secondary objective, each Fund seeks capital appreciation. Western Asset High Income Fund maintains a small allocation to emerging market securities while Western Asset High Income Opportunity Fund does not. If the proposed merger is approved, stockholders of Western Asset High Income Fund Inc. would receive common stock of Western Asset High Income Opportunity Fund Inc., based on each Fund`s respective net asset value per share. Terms of the transaction were not disclosed. Full Article
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