Saba Capital to exit ESCT through tender offer
European Smaller Companies Trust will launch a tender offer for up to 42.5% of its shares after talks between the board and Saba
European Smaller Companies trust
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Saba suffers sixth defeat at European Smaller Companies Trust meeting
Saba Capital has so far failed to convince shareholders, receiving less than 2% of independent voting at each meeting
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Trusts targeted by Saba campaign urge shareholders ‘take no action’
The US activist plans to replace the boards of seven trusts, in what some call an ‘entirely self-serving’ move
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Saba Capital launches campaign to replace seven investment trust boards
Activist investor is seeking to replace the boards of Baillie Gifford US Growth, Henderson Opportunities and more
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European Smaller Companies trust increases share price by 19.5%
Trust now trading on 10.8% discount