Duff & Phelps Select MLP and the closed-end Midstream Energy Fund Inc. (DSE) have merged with the open-end Virtus Duff & Phelps Select MLP and Energy Fund (VLPIX).
VLPIX invests in North American energy infrastructure. The portfolio team applies a disciplined, bottom-up investment process, focusing on energy midstream master limited partnerships, general partners and C-corporations that own midstream oil and natural gas assets backed by long-term, fee-based contracts.
Under the transaction, former DSE shareholders received 1.080565 shares of common stock of VLPIX for every share of DSE common stock they held at the time of the merger.
