NEW YORK, May 18 /PRNewswire-FirstCall/ -- ACM Municipal Securities Income Fund, Inc. ("ACM Municipal") announced that the acquisition of the assets and the assumption of the liabilities of ACM Municipal by AllianceBernstein National Municipal Income Fund, Inc. ("National Municipal") (the "Acquisition") took place as of the close of business on May 18, 2007.
As a result of the Acquisition, each holder of ACM Municipal common stock received shares of National Municipal common stock having an aggregate net asset value ("NAV") equal to the aggregate NAV of the stockholder's shares in ACM Municipal. As of the close of business on May 18, 2007, the NAV of ACM Municipal was $11.15 per share and the NAV of National Municipal was $15.28 per share. Each share of common stock of ACM Municipal was converted into 0.7297 of a share of National Municipal common stock. Common stockholders participating in ACM Municipal's dividend reinvestment plan received full and fractional National Municipal shares. Other common stockholders received cash in lieu of fractional shares.
© 2007 PR Newswire
