US EditionUS Investor Saba Blocks Baillie Gifford and Edinburgh Merger
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Saba Capital opposes Baillie Gifford trusts merger
A plan to combine two Baillie Gifford-managed trusts has been halted after Saba Capital indicated it would reject a merger between Edinburgh Worldwide and Baillie Gifford US Growth. According to a stock exchange announcement by Edinburgh Worldwide, the two trusts had been in discussions for some months over the proposal, which would include a cash exit option of up to 40%. The Edinburgh Worldwide board said it had requested a meeting with Saba…
Saba rejects Edinburgh Worldwide Investment Trust merger proposal
Edinburgh Worldwide Investment Trust (EWIT) has announced it is in advanced discussions to merge with Baillie Gifford US Growth Trust, a move immediately rejected by Saba Capital Management, which continues to seek to seize control of the trust. All shareholders would receive a cash exit option of up to 40% of their holdings under the […] The post Saba rejects Edinburgh Worldwide Investment Trust merger proposal appeared first on UK Investor Mag…
US investor Saba Capital blocks merger of Baillie Gifford-managed trusts in London - Regional Media News
Dec 2 (Reuters) - U.S. activist investor Saba Capital has blocked a proposed merger of two London-listed Baillie Gifford-managed investment trusts, the firms said on Tuesday, derailing a deal that would have offered shareholders a 40% cash exit to net asset value. Baillie Gifford US Growth Trust said it has been in active discussions with the board of peer Edinburgh Worldwide Investment Trust on a potential merger that would refine the companies…
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