Major Scottish Player's £12.5bn Truce with US Hedge Fund Which Ousted an Entire Board
The deal includes a tender offer for up to 66% of Herald and a handover to Aberdeen Investments later this year.
10 Articles
10 Articles
Saba Capital pauses UK investment trust activism
Saba Capital Management, the hedge fund led by Boaz Weinstein, has agreed to pause its activist campaign targeting several London-listed investment trusts following a settlement centred on Herald Investment Trust, according to a report by CNBC Under the agreement, Herald has launched a large tender offer allowing shareholders, including Saba, to exit a substantial portion of their holdings at close to net asset value or remain invested, while ma…
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Saba Capital has reached an agreement with Herald Investment Trust that pauses an activist campaign targeting the investment trust sector. The arrangement comes after increasing scrutiny of discount levels and governance practices within UK-listed investment trusts, where activist hedge funds have b... Article link
Herald trust saved after Saba and Aberdeen ink deal
Aberdeen and US activist hedge fund Saba have reached agreement for the Scottish investment juggernaut to manage Herald Investment Trust, ending a years-long arm wrestle over the trust’s future. In an eleventh-hour deal that will save Herald from being wound down, Aberdeen will recruit eight of the fund’s staff – including fund manager Katie Potts – and take reins of the £1.5bn trust, the companies said in a statement on Thursday. The rapprochem…
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