Brief: Hennessy Advisors to acquire the Rainier U.S. Equity Funds

Hennessy Advisors

11/05/2017 21:15

May 11 (Reuters) - Hennessy Advisors Inc  HNNA.O  
    * Hennessy Advisors, Inc. to acquire the Rainier U.S. Equity 
Funds 
    * Hennessy Advisors - Assets related to rainier mid cap 
equity fund and rainier small/mid cap equity fund to merge into 
hennessy cornerstone mid cap 30 fund 
    * Hennessy Advisors Inc - Assets related to rainier large 
cap fund will merge into Hennessy Cornerstone large growth fund 
    * Says shareholders of Rainier U.S. Funds will become 
shareholders of Hennessy Funds 
    * Hennessy Advisors Inc - Transaction has been structured 
with intention that it qualify as a tax-free reorganization 
    * Hennessy Advisors - Shareholders of Rainier U.S. Funds 
should not recognize any gain or loss for federal income tax 
purposes as result of transaction 
    * Hennessy Advisors Inc - Signed a definitive agreement with 
Manning & Napier Group, LLC and Rainier Investment Management, 
Llc 
 
Source text for Eikon:  ID:nPn4JxpMba  
Further company coverage:  HNNA.O  
 
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