Franklin Templeton announced on January 22, 2025, the discontinuation of the proposed reorganization of Western Asset Total Return ETF (WBND) into the Western Asset Bond ETF (WABF). The decision was made due to WBND's failure to receive the requisite shareholder approval for the reorganization.
The proposed consolidation aimed to streamline product offerings within the Western Asset Management fixed income lineup. The inability to secure shareholder consent indicates a challenge in executing strategic adjustments for certain funds.
This outcome means that the planned integration will not proceed, and the Board of Trustees of WBND may consider other actions for the fund at a future date. The event highlights the importance of shareholder alignment in strategic product changes.
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