Why is Saba Capital trying to take over EWIT?

Saba Capital is attempting the takeover primarily to gain control of EWIT's significant stake in SpaceX, which is valued at approximately £165 million.

When do shareholders need to vote to prevent the takeover?

Shareholders need to vote by specific deadlines, such as April 24, 2026, for platforms like Fidelity, or attend the AGM, to prevent Saba Capital's nominees from being elected.

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Hedge Fund Raids SpaceX Investor Board

Q: What is the Edinburgh Worldwide Investment Trust (EWIT) facing?

EWIT is facing a hostile takeover attempt by the US hedge fund Saba Capital, led by Boaz Weinstein, who is trying to replace its board of directors.

19 Apr

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Summary

A US hedge fund is attempting to seize control of an investor in SpaceX.
Shareholders are urged to vote against the hedge fund's board nominees.
SpaceX is planning a potential $1.3 trillion stock market listing soon.

Shareholders of the Edinburgh Worldwide Investment Trust (EWIT) are being urged to actively participate in the upcoming annual general meeting to prevent Saba Capital, a New York-based hedge fund, from taking control. Saba's financier, Boaz Weinstein, is attempting for the third time to replace EWIT's entire board with his own nominees.

EWIT's most significant asset is its stake in Elon Musk's SpaceX, valued at approximately £165 million. This takeover attempt gains urgency as SpaceX reportedly plans to list on the stock market later this year, potentially valuing the firm at up to £1.3 trillion.