Edinburgh Worldwide backs tender offer even as pressure from Saba Capital mounts
31/03/2026 15:31
March 31 (Reuters) - Edinburgh Worldwide Investment Trust EWI.L on Tuesday urged shareholders to vote in favour of its proposed tender offer, a day after Boaz Weinstein's Saba Capital unveiled an alternate liquidity proposal. Saba's liquidity proposal recommends the board to offer three options to shareholders: tender immediately at net asset value less costs, tender following a potential SpaceX IPO, or retain their investments in the company. "Saba's latest statement promotes outcomes it cannot itself deliver and should not be presented as credible proposals," Edinburgh Worldwide Investment Trust said. Edinburgh Worldwide Investment Trust last month proposed a tender offer for up to 100% of its shares, which it continues to endorse to its shareholders. Edinburgh said directors nominated by Saba had repeatedly failed to engage with shareholders, including not attending the General Meeting at which they were proposed in response to Saba's push for them to be nominated by shareholders. (Reporting by Prerna Bedi in Bengaluru; Editing by Shailesh Kuber) ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))