Activist investor Boaz Weinstein's Saba Capital urges changes in 10 BlackRock closed-end funds, accusing BlackRock of "crushing shareholder rights."

Activist investor Boaz Weinstein's Saba Capital is pushing for changes in 10 BlackRock closed-end funds, which trade at a discount to their net asset value and underperform their peers. Saba seeks to replace management in six of these funds and offer investors the chance to sell at share value. Weinstein accuses BlackRock of "crushing shareholder rights".

May 17, 2024
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