11:20 AM EDT, 10/09/2024 (MT Newswires) -- KKR Income Opportunities Fund ( KIO ) has agreed to acquire the assets of Insight Select Income Fund ( INSI ) , the companies said late Tuesday.

Under the terms of the deal, Insight Select shareholders will receive KKR Income shares and may opt to receive up to 5% of the consideration in cash, the companies said.

The board-approved deal is expected to close in Q4, subject to approvals by the companies' respective shareholders.

Following the deal's completion, Insight Select will no longer have its shares listed on any public market, the companies said.

Insight Select shares were up 5.1% in recent Wednesday trading, while KKR Income fell 0.4%.

Price: 14.92, Change: -0.06, Percent Change: -0.39