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Emerging-Markets Funds Plan Mergers, Tender Offers

Two more closed-end funds will bite the dust if their shareholders agree to mergers approved this week by the funds' boards of directors.

The boards proposed to merge Latin America Investment (LAM) into Latin America Equity (LAQ) and Emerging Markets Infrastructure (EMG) into Emerging Markets Telecommunications  (ETF). The mergers, they said, are part of a broader effort to narrow the discounts of the funds, all of which are advised by Credit Suisse Asset Management.

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