ACM Municipal Securities Income Fund, Inc. Announces Record Date for Final Distribution and Acquisition Date
May 08 2007 - 7:20PM
PR Newswire (US)
NEW YORK, May 8 /PRNewswire-FirstCall/ -- ACM Municipal Securities
Income Fund, Inc. ("ACM Municipal Securities"; NYSE: AMU), a
closed-end management investment company, declared today, May 8,
2007, a possible final distribution payable to shareholders of
record at the close of business on May 17, 2007. As of the close of
business on May 18, 2007, the acquisition of the assets and the
assumption of the liabilities of ACM Municipal Securities by
Alliance National Municipal Income Fund, Inc. ("Alliance National
Municipal"; NYSE: AFB) (the "Acquisition") will take place. The
amount of the final distribution, if any, and payable date will not
be determined until approximately the closing of the Acquisition.
As previously announced, at a Special Meeting of Stockholders of
ACM Municipal Securities held on April 13, 2007, the preferred
stockholders of ACM Municipal Securities voting as a separate class
approved the Acquisition. The Acquisition was previously approved
by ACM Municipal Securities' preferred stockholders and common
stockholders voting as a single class at a Special Meeting held on
February 22, 2007. The Acquisition will occur as of the close of
business on May 18, 2007. As a result of the Acquisition,
stockholders of ACM Municipal Securities will receive shares of
Alliance National Municipal equivalent in aggregate net asset value
to the shares they held in ACM Municipal Securities. Stockholders
participating in ACM Municipal Securities' dividend reinvestment
plan will receive full and fractional Alliance National Municipal
shares. Other stockholders will receive cash in lieu of fractional
shares. ACM Municipal Securities is a diversified, closed-end
U.S.-registered management investment company advised by
AllianceBernstein L.P. As of May 4, 2007, the total net assets of
ACM Municipal Securities were $215,347,213. DATASOURCE: ACM
Municipal Securities Income Fund, Inc. CONTACT: Shareholder
Contact: +1-800-221-5672 Web site:
http://www.alliancebernstein.com/
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