PMO: Franklin Resources to acquire Putnam Holdings; new management contracts need shareholder approval

PUTNAM MUNICIPAL OPPORTUNITIES TRUST

Franklin Resources subsidiary to acquire Putnam Holdings in stock and cash; Putnam Management becomes indirect subsidiary.
Transaction expected to close in Q4 2023, subject to regulatory approvals and customary closing conditions.
Consummation automatically terminates existing investment management contracts for Putnam funds, including PMO.
Board of Trustees to approve new contracts; then subject to shareholder vote for each fund.

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