institutionalinvestor.com
Saba Capital Management, Boaz Weinstein’s white-hot credit hedge fund, is holding a Wall Street merger hostage — again. Last month, Morgan Stanley announced it was buying for $7 billion money manager Eaton Vance, which oversees more than two dozen closed-end funds. Saba built positions in several Eaton Vance bond vehicles and launched proxy contests that threaten to disrupt the pairing — if the funds’ stewards don’t act to reduce or eliminate persistent discounts to the funds’ net asset values, or NAVs.
about 5 years ago