Tortoise Capital Advisors is asking shareholders to approve a plan to merge three of its publicly traded closed-end funds.
The plan is to create a much larger fund by merging Tortoise Energy Infrastructure Corp. (NYSE: TYG) with Tortoise Energy Capital Corp. (NYSE: TYY) and Tortoise North American Energy Corp. (NYSE: TYN). If approved by shareholders and regulators, Tortoise Energy Infrastructure would be the acquirer of the other two funds and the surviving entity. Shareholders of TYY and TYN would…
Tortoise Capital Advisors is asking shareholders to approve a plan to merge three of its publicly traded closed-end funds.
The plan is to create a much larger fund by merging Tortoise Energy Infrastructure Corp. (NYSE: TYG) with Tortoise Energy Capital Corp. (NYSE: TYY) and Tortoise North American Energy Corp. (NYSE: TYN). If approved by shareholders and regulators, Tortoise Energy Infrastructure would be the acquirer of the other two funds and the surviving entity. Shareholders of TYY and TYN would…