Western Asset Managed Municipals Fund set to absorb Western Asset Intermediate Muni Fund in Q4 2026 merger plan
MMU•Merger plan
Western Asset Intermediate Muni Fund (SBI) is set to merge into Western Asset Managed Municipals Fund (MMU), pending SBI shareholder approval.
Closing is expected in Q4 2026.
Fund assets as of May 31, 2026
As of May 31, 2026, SBI had net assets of about $119.12 million; MMU had about $599.71 million.
Exchange terms for shareholders
SBI common holders would receive MMU common shares based on SBI NAV per share; fractional entitlements would be paid in cash.
SBI VRDPS holders would receive MMU VRDPS in the same number with identical terms.
