Gabelli Equity begins tender offer for series C, E auction-rate preferreds

By Wendy Van Sickle

Columbus, Ohio, Nov. 22 – Gabelli Equity Trust’s board of trustees has authorized a tender offer for all of the fund’s outstanding series C and series E auction rate cumulative preferred shares, according to a news release.

Holders may tender their preferred shares for $22,500 in cash apiece until Dec. 20.

Accrued dividends will also be paid in cash.

Gabelli is a Rye, N.Y.-based investment firm.

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