Boards of Directors Approve the Acquisition of Assets of ACM Municipal Securities Income Fund, Inc. by Alliance National Municip
20 Novembre 2006 - 10:06PM
PR Newswire (US)
NEW YORK, Nov. 20 /PRNewswire-FirstCall/ -- The Boards of Directors
of Alliance National Municipal Income Fund, Inc. ("Alliance
National Municipal" - NYSE: AFB) and ACM Municipal Securities
Income Fund, Inc. ("ACM Municipal Securities" - NYSE: AMU) have
approved today a proposal of the acquisition of the assets and the
assumption of the liabilities of ACM Municipal Securities by
Alliance National Municipal (the "Acquisition"). The Acquisition is
subject to stockholders of ACM Municipal Securities approving the
Acquisition and is subject to the stockholders of Alliance National
Municipal approving the issuance of Alliance National Municipal
common stock for exchange in the Acquisition. A Special Meeting of
Stockholders of ACM Municipal Securities is scheduled to be held on
Thursday, February 22, 2007. The close of business on December 15,
2006 has been fixed as the record date for the Special Meeting of
Stockholders. Assuming stockholders of Alliance National Municipal
approve the issuance of that Fund's common stock for exchange in
the Acquisition, the Acquisition, if approved by stockholders of
ACM Municipal Securities, is expected to take place in mid-2007.
ACM Municipal Securities and Alliance National Municipal are
diversified, closed-end U.S.-registered management investment
companies. Both Funds are advised by AllianceBernstein L.P. As of
November 16, 2006, the net assets of ACM Municipal Securities and
Alliance National Municipal were $217 million and $514 million,
respectively. DATASOURCE: Alliance National Municipal Income Fund,
Inc. CONTACT: Shareholder, 1-800-221-5672 Web site:
http://www.alliancebernstein.com/
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