What is Saba's latest move against Edinburgh Worldwide Investment Trust?

Saba is attempting to oust the entire board of the Edinburgh Worldwide Investment Trust through a shareholder vote.

Why are investment trusts increasing their defenses?

Investment trusts are increasing defenses due to a rise in attacks from activist investors like Saba.

What do companies do to defend against activists?

Some companies are hiring PR firms with experience in defending against activist investor campaigns.

Home / Business and Economy / Investment Trusts Brace for Activist Investor Onslaught

Investment Trusts Brace for Activist Investor Onslaught

18 Jan

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Summary

London trusts bolster defenses against activist investors.
Saba, led by Boaz Weinstein, targets Edinburgh Worldwide Trust board.
Companies seek PR firms experienced in activist defense strategies.

Investment Trusts Brace for Activist Investor Onslaught

Investment trusts listed in London are enhancing their defenses against potential attacks from activist investors. This strategic shift follows recent aggressive actions by hedge fund Saba, led by Boaz Weinstein.

Saba is currently poised for a significant confrontation with the Edinburgh Worldwide Investment Trust. A vote to remove the entire board is scheduled, with results expected soon. This raid on the £784 million trust has prompted a defensive reaction from other entities in the traditionally stable investment trust sector.

Industry sources indicate that some trusts are now engaging PR firms, specifically seeking those with a proven track record in defending companies against activist investors. This proactive measure signals a heightened awareness and preparedness for potential future challenges.