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Article: Neuberger Berman California Intermediate Municipal Fund Inc., Neuberger Berman Income Opportunity Fund Inc. and Neuberger Berman Real Estate Securities Income Fund Inc. Commence Tender Offers.
- Article from:
- Business Wire
- Article date:
- September 18, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- 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 ...