Abrdn Japan Equity Fund Announces Proposed Merger and Conditional Tender Offer

The boards of directors of abrdn Japan Equity Fund, Inc. (NYSE:JEQ) and abrdn Global Infrastructure Income Fund (NYSE:ASGI) have approved a proposed merger of JEQ into ASGI. The reorganization remains subject to the approval of the necessary JEQ shareholders. There will be no changes to ASGI’s current objectives or policies as a result of this reorganization. It is intended to be a tax-free reorganization for U.S. federal income tax purposes.

JEQ shareholders, recorded by March 14, 2025, will vote on the proposal during a special shareholder meeting on June 13, 2025. ASGI shareholders are not required to vote on the share issuance in connection with this reorganization.

Conditional upon shareholder approval, JEQ will initiate a cash tender offer for up to 50% of its shares at 98% of NAV per share, proceeding practical post-approval and before merging with ASGI. Timing details will follow.