Saba ramps up demands for Workspace break-up Investing Notorious activist investor Saba has dialled up its efforts to force a London-listed property trust to sell off its portfolio of offices, warning the firm’s revamped strategy was fraught with “considerable execution risk”. In an excoriating open letter, the New York-based hedge fund, which is run by pugnacious founder Boaz Weinstein, called on flexible office [...]
Saba Capital will likely gain “effective control” of IEM after tender offer Investing Investment trust Impax Environmental Markets have acknowledged Saba Capital is likely to have “effective control” following the completion of its exit tender offer, as the US hedge funds looks to oust the board. In response to a letter sent to the board by Saba, Impax Envrionmental Markets (IEM) confirmed its exit tender offer remained on [...]
Investment trusts launch last-ditch City watchdog campaign Markets The chair of one of Britain’s oldest investment trusts has accused the City watchdog of leaving his industry exposed to aggressive activist campaigns even after an overwhelming majority of shareholders have rejected them. Morning Wire can reveal that Edinburgh Worldwide Investment Trust (Ewit) chair Jonathan Simpson-Dent met Financial Conduct Authority officials last week in a [...]
Impax Environmental Markets assets dip while holding out hope for ‘resurgent M&A’ August 12, 2024 Impax Environmental Markets has reported a 0.5 per cent decline in the net asset value (NAV) of the trust over the six months to 30th June. The investment trust reported a NAV of 429.3p at the end of June, compared to 434.9p as of 31 December 2023. The company, which is the UK’s largest environmental [...]