Delaware Investments Minnesota Municipal Income Funds Announce Closing Date of Acquisition
08 February 2006 - 11:52AM
PR Newswire (US)
PHILADELPHIA, Feb. 7 /PRNewswire-FirstCall/ -- Delaware Investments
Minnesota Municipal Income Fund, Inc. (AMEX:VMN) ("Minnesota I"),
Delaware Investments Minnesota Municipal Income Fund II, Inc.
(AMEX:VMM) ("Minnesota II") and Delaware Investments Minnesota
Municipal Income Fund III, Inc. (AMEX: VYM) ("Minnesota III")
(each, a "Fund") announced a closing date of February 24, 2006 at
5:00 p.m. Eastern Time for the acquisition by Minnesota II of
substantially all of the assets of Minnesota I and Minnesota III in
exchange for shares of Minnesota II (the "Acquisition"). Common
shares will be exchanged based on the respective net asset values
of each of Minnesota I's and Minnesota III's common stock and
Minnesota II's common stock. Holders of each of Minnesota I's and
Minnesota III's preferred shares will receive an equal number of a
corresponding series of preferred shares of Minnesota II having the
same liquidation preference as Minnesota I's and Minnesota III's
preferred shares. The Acquisition was approved by shareholders of
the three closed-end funds at the reconvened Special Meeting of
Shareholders held on January 12, 2006. About Delaware Investments:
Delaware Investments, an affiliate of Lincoln Financial Group, is a
Philadelphia-based diversified asset management firm with more than
$110 billion in assets under management as of September 30, 2005.
Through a broad range of managed accounts and portfolios, mutual
funds, retirement plan services, sub-advised funds, college savings
plans and other investment products, Delaware Investments provides
investment services to individual investors and to institutional
investors such as private and public pension funds, foundations,
and endowment funds. Delaware Investments is the marketing name for
Delaware Management Holdings, Inc. and its subsidiaries. For more
information on Delaware Investments, visit the company at
http://www.delawareinvestments.com/. Lincoln Financial Group is the
marketing name for Lincoln National Corporation (NYSE:LNC) and its
affiliates. For more information on Lincoln Financial Group, visit
http://www.lfg.com/. DATASOURCE: Delaware Investments CONTACT:
Ayele Ajavon, Corporate Communications, +1-215-255-1632, , or
Laurel O'Brien, Corporate Communications, +1-215- 255-1520, , both
of Delaware Investments Web site:
http://www.delawareinvestments.com/ http://www.lfg.com/
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