Saba Capital's takeover bid for Baillie Gifford and Keystone Positive Change funds was rejected by shareholders.

Saba Capital's takeover bid for Baillie Gifford US Growth and Keystone Positive Change was overwhelmingly rejected by shareholders. At Baillie Gifford US Growth, 65.6% of shareholders voted against the proposal, with 98.5% of non-Saba votes opposing it. Similarly, at Keystone Positive Change, over 60% of shareholders voted against the takeover, with only 0.8% of non-Saba shareholders in favor. The boards now plan to offer shareholders an uncapped cash exit or a rollover into a more liquid fund.

2 months ago
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