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The Board of the Neuberger Berman Real Estate Income Fund (NRL) announced new terms of the fund's poison pill today. The new poison pill will not be triggered until a person or an associated group of investors owns 15% of the fund's outstanding shares. This latest move will hinder Phillip Goldstein's attempts to trigger the poison pill, at least for the time being. The Board has shown that they are going to do their best to maintain the fund's closed-end format, rather than open-ending. It will be interesting to see what Phillip Goldstein's next move is.

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Source: Neuberger Berman Real Estate Income Fund Poison Pill Changes (NRL)