Bulldog Investors Reaches Settlement Agreement with BrandywineGLOBAL-Global Income Opportunities Fund


SADDLE BROOK, N.J.--(BUSINESS WIRE)--Bulldog Investors, LLC today announced that it has reached a settlement agreement with Brandywine GLOBAL-Global Income Opportunities Fund (NYSE: BWG) regarding shareholder approval of a new management agreement between BWG and Legg Mason Partners Fund Advisor, LLC.

The settlement agreement provides for, among other things, BWG to conduct a self-tender offer for 20% of its outstanding shares of common stock at a price of 99.5% of net asset value (“NAV”) as soon as practicable as determined by the Board of Directors. The complete settlement agreement will be included in a filing made with the Securities and Exchange Commission.

Andrew Dakos, a managing member of Bulldog, commented: “BWG’s common shares have recently been trading at a discount of more than 14% to NAV. The tender offer will provide an opportunity for shareholders to receive a price close to NAV for a significant portion of their shares. We are pleased to have reached this agreement with the Board, which is the result of ongoing constructive engagement.”

About Bulldog Investors

Bulldog Investors LLC is an SEC-registered investment adviser that manages Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.

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