NEW YORK, June 11, 2019 /PRNewswire/ -- The Boards of
Directors of Cohen & Steers Global Income Builder,
Inc. ("INB" or the "Acquired Fund") and Cohen & Steers
Infrastructure Fund, Inc. ("UTF" or the "Acquiring Fund") have
approved the reorganization of INB with and into UTF, pursuant to
which UTF would continue as the surviving fund (the
"Reorganization").
In approving the Reorganization, the directors considered, among
other things, each fund's investment objectives, net asset value
and stock price performance, income potential and potential
operating expense savings based on operational efficiencies. The
Reorganization will permit fund shareholders to pursue
substantially similar investment objectives in a larger fund that
has a focused investment strategy and anticipated lower
expenses.
INB's shareholders will be asked to vote on the Reorganization
at a special meeting expected to be held on November 15, 2019. The Reorganization, if
approved, is expected to occur in the fourth quarter of
2019, subject to the required approval of shareholders of INB.
More information will be contained in the proxy materials to be
filed with the Securities and Exchange Commission ("SEC") and
mailed to INB's shareholders.
Additional Information About the Proposed Reorganization and
Where to Find It
This press release is not intended to, and shall not, constitute
an offer to purchase or sell shares of any of the funds; nor is
this press release intended to solicit a proxy from any shareholder
of any of the funds. The solicitation of the purchase or sale of
securities or of proxies to effect the reorganization may only be
made by a final, effective Registration Statement, which will
include a definitive Combined Proxy Statement/Prospectus, after the
Registration Statement is declared effective by the SEC.
This Registration Statement has yet to be filed with the SEC.
Once it is, it may be amended or withdrawn and the Combined Proxy
Statement/Prospectus will not be distributed unless and until the
Registration Statement is declared effective by the SEC.
The funds and their respective directors and officers, and Cohen
& Steers, and its shareholders, officers and employees and
other persons may be deemed to be participants in the solicitation
of proxies with respect to the proposed Reorganization. Investors
and shareholders may obtain more detailed information regarding the
direct and indirect interests of the funds' respective directors
and officers, and Cohen & Steers and its shareholders, officers
and employees and other persons by reading the Combined Proxy
Statement/Prospectus regarding the Reorganization when it is filed
with the SEC.
INVESTORS AND SHAREHOLDERS OF THE FUNDS ARE URGED TO READ THE
COMBINED PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH
THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
REORGANIZATION. INVESTORS SHOULD CONSIDER THE INVESTMENT
OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE FUNDS CAREFULLY. THE
COMBINED PROXY STATEMENT/PROSPECTUS WILL CONTAIN INFORMATION WITH
RESPECT TO THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES
OF THE FUNDS AND OTHER IMPORTANT INFORMATION ABOUT THE FUNDS. The
Combined Proxy Statement/Prospectus will constitute neither an
offer to sell securities, nor will it constitute a solicitation of
an offer to buy securities, in any state where such offer or sale
is not permitted.
Investors may obtain free copies of the Registration Statement
and Combined Proxy Statement/Prospectus and other documents (when
they become available) filed with the SEC at the SEC's web site at
www.sec.gov. In addition, free copies of the Combined Proxy
Statement/Prospectus and other documents filed with the SEC may
also be obtained after each Registration Statement becomes
effective by directing a request to Cohen & Steers at 800 330
7348.
Website: https://www.cohenandsteers.com
Symbol: (NYSE: UTF), (NYSE: INB), (NYSE: CNS)
About Cohen & Steers. Cohen & Steers is a global
investment manager specializing in liquid real assets, including
real estate securities, listed infrastructure and natural resource
equities, as well as preferred securities and other income
solutions. Founded in 1986, the firm is headquartered in
New York City, with offices in
London, Hong Kong and Tokyo.
Forward-Looking Statements
This press release and
other statements that Cohen & Steers may make may contain
forward looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, which reflect the company's current views with respect
to, among other things, its operations and financial performance.
You can identify these forward-looking statements by the use of
words such as "outlook," "believes," "expects," "potential,"
"continues," "may," "will," "should," "seeks," "approximately,"
"predicts," "intends," "plans," "estimates," "anticipates," or the
negative versions of these words or other comparable words. Such
forward-looking statements are subject to various risks and
uncertainties.
Accordingly, there are or will be important factors that could
cause actual outcomes or results to differ materially from those
indicated in these statements. The company undertakes no obligation
to publicly update or review any forward-looking statement, whether
as a result of new information, future developments or
otherwise.
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SOURCE Cohen & Steers