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Edinburgh Trust Resists Saba's Control Bid, Plans Tender Offer

3/11/2026

Summary

Story summary

Edinburgh Worldwide Investment Trust faced pressure from Saba Capital, led by Boaz Weinstein, which proposed board nominees to gain control.
A vote rejected Saba's bid, with 94% of non-Saba shareholders backing the current board.
In response, the trust plans a 100% tender offer to let investors cash out while retaining its SpaceX holding until a future listing.
The trust's chair criticized Saba's tactics and urged regulatory protections against such actions.

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Story summary

Edinburgh Worldwide Investment Trust faced pressure from Saba Capital, led by Boaz Weinstein, which proposed board nominees to gain control.
A vote rejected Saba's bid, with 94% of non-Saba shareholders backing the current board.
In response, the trust plans a 100% tender offer to let investors cash out while retaining its SpaceX holding until a future listing.
The trust's chair criticized Saba's tactics and urged regulatory protections against such actions.