NEW YORK, Nov. 30 /PRNewswire-FirstCall/ -- Cohen & Steers Select Utility Fund, Inc. (NYSE: UTF) announced today that at the special meeting of stockholders on November 27, 2009, an insufficient number of votes were submitted to approve the merger with Cohen & Steers REIT & Utility Income Fund, Inc. (NYSE: RTU). UTF will continue to operate as a separate company.
If the board of directors determines that a merger of UTF with RTU remains in the best interest of stockholders, it will continue to solicit votes to approve the proposal, announce a new record date and reconvene the special meeting.
Separately, on November 24, 2009 stockholders of UTF approved expanding UTF's investment objective to include global infrastructure securities. UTF will change its name to Cohen & Steers Infrastructure Fund, Inc. and its benchmark to the UBS Global 50/50 Infrastructure & Utilities Index. These changes, along with the transition of UTF's portfolio to investments in global infrastructure securities, will be effective January 1, 2010.
About Cohen & SteersCohen & Steers is a manager of income-oriented equity portfolios specializing in U.S. and international real estate securities, large cap value stocks, listed infrastructure and utilities, and preferred securities. The company also manages alternative investment strategies such as hedged real estate securities portfolios and private real estate multi-manager strategies for qualified investors. Headquartered in New York City, with offices in London, Brussels, Hong Kong and Seattle, Cohen & Steers serves individual and institutional investors through a broad range of investment vehicles. SOURCE Cohen & Steers