NEW YORK, Feb. 26 /PRNewswire-FirstCall/ -- Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF) (formerly known as Cohen & Steers Select Utility Fund, Inc.) announced that shareholders approved the fund's merger with Cohen & Steers REIT and Utility Income Fund, Inc. (NYSE: RTU) at today's special shareholder meeting. The merger is expected to be completed after the close of business on March 12, 2010. Today's meeting has been adjourned until 5:00 PM with respect to the proposal to increase the number of authorized common shares.
In the merger, UTF will acquire substantially all of the assets and liabilities of RTU in a tax-free transaction in exchange for an equal aggregate value of newly issued common shares of UTF. RTU will distribute the common shares (and fractional shares where applicable) of UTF to its common shareholders in an amount equal to the aggregate net asset value of RTU common shares, as determined at the close of business on March 12, 2010.
About Cohen & Steers
Cohen & 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; Infrastructure Fund, Inc.; REIT and Utility Income Fund, Inc.