Franklin Resources to acquire Putnam Holdings; PPT's investment manager to become Franklin subsidiary

PUTNAM PREMIER INCOME TRUST

Franklin Resources (parent of Franklin Templeton) will acquire Putnam Holdings in a stock and cash transaction.
Transaction expected to close in Q4 2023, subject to regulatory approvals and customary conditions.
Putnam Management, investment manager for Putnam Premier Income Trust (PPT), would become indirect Franklin subsidiary.
PPT's Board of Trustees will consider a new management contract; if approved, shareholders will vote.

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