Bulldog-Ancora Commences Tender Offer for $40 Million of Shares of Adams Natural Resources
July 13, 2020 at 04:16 pm EDT
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On July 10, 2020, the Bulldog-Ancora Group announced that it is commencing a tender offer to acquire up to $40 million of shares of Adams Natural Resources Fund, Inc., for cash at a price per share of 90% of net asset value per share (NAV) of PEO at the close of the regular trading session of the New York Stock Exchange on the expiration date of August 7, 2020, unless extended.
Adams Natural Resources Fund, Inc. (the Fund) is a non-diversified investment company. The Fund is an internally managed closed-end fund specializing in energy and other natural resources stocks. The Fund's investment objectives are preservation of capital, the attainment of reasonable income from investments, and an opportunity for capital appreciation. The Fund invests at least 80% of its assets in petroleum or natural resources industries or industries connected with, serving and/or supplying the petroleum or natural resources industries. The Fund has broad flexibility to invest in stocks of varying capitalizations, and primarily invests in stocks found in the S&P 500 Energy and S&P 500 Materials sectors. The Fund invests at least 25% of its assets in petroleum and petroleum-related industries. The Fund may invest up to 25% of its assets in commodities related to petroleum, minerals and related products, including swaps. The Fund may invest up to 10% of its assets in real property.
ADAMS NATURAL RESOURCES FUND, INC. 
