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Morning briefing: "Strap in" for Grainger battle as Saba follows Mike Ashley with 5% stake; Saba target Workspace cuts dividend; Molten backs Isar Aerospace; IBT and BIOG chalk up sixth bid as GSK buys Nuvalent; plus Helical, Tritax Big Box
Saba Capital has bought a 5% position in Grainger (GRI), the £1.1bn residential landlord that has been trading at around a 50% discount to net asset value. Shares in the company rose 4.2% to 159.7p after the activist hedge fund’s stake, mostly held in swap derivatives, was disclosed yesterday afternoon. Saba completed buying the position on 4 June and notified Grainger on Monday. Last month, Mike Ashley, founder of Frasers (FRAS), the Sports Dir…
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