NTG And TYG: Merger Proposal [Seeking Alpha]
Tortoise Midstream Energy Fund, Inc. (NTG)
US:NYSE Investor Relations:
tortoiseadvisors.com
Company Research
Source: Seeking Alpha
Play 7min Summary Tortoise Capital Advisors plans to merge Tortoise Midstream Energy Fund into Tortoise Energy Infrastructure Corp. The merger, subject to shareholder and regulatory approval, includes a 40% distribution increase and a switch to monthly payouts, enhancing investor appeal. The merger may be an effort to counter activist investor Saba's influence, who holds significant stakes in both NTG and TYG. While the distribution increase is attractive, the merger reduces CEF rotation opportunities; NTG remains a "buy" in our Tactical Income-100 portfolio with a -10% discount target. This idea was discussed in more depth with members of my private investing community, CEF/ETF Income Laboratory. Learn More » thexfilephoto NTG and TYG merger proposal Tortoise Capital Advisors has announced plans to merge two of its MLP/midstream closed-end funds, Tortoise Midstream Energy Fund NYSE: NTG ) and Tortoise Energy Infrastructure Corp NYSE: TYG From the press release
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Sec Filings
- 9/3/24 - Form 4
- 9/3/24 - Form N-PX
- 8/8/24 - Form N-CSRS
- NTG's page on the SEC website