25 04 2016

Karpus Management Reaches Agreement with The Zweig Fund and The Zweig Total Return Fund Regarding Instituting a Tender Offer Program

Olshan represented Karpus Investment in connection with their activist campaign at The Zweig Fund and The Zweig Total Return Fund.


Karpus Management reached an agreement with The Zweig Fund, Inc. and The Zweig Total Return Fund, Inc. resulting in the institution of a tender offer program for up to 25% of each funds outstanding shares through an initial offer of up to 15% of outstanding shares and two conditional offers of up to 5% each, in each case at a price equal to 98% of NAV. Karpus Management Inc. is an employee owned investment manager. The firm, led by George W. Karpus, Jo Ann Van Degriff, Kathleen Finnerty Crane, Dana R. Consler and Cody B. Bartlett Jr. is based in Pittsford (NY). Olshan represented Karpus Management Inc. with a team including Adam Finerman (Picture) and Jonathan Wu. Involved fees earner: Adam Finerman - Olshan Frome Wolosky LLP; Jonathan Wu - Olshan Frome Wolosky LLP;

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