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Main strategy by Saba Capital in next proxy battle against BlackRock?
5
Resolution / Starting Odds
Replacing directors • 33%
Firing the fund manager • 33%
Other strategic moves • 34%
Official announcements, shareholder communications, or court filings
Story
BlackRock Wins Proxy Battle for Board Seats at Six Funds Against Saba Capital
Jun 28, 2024, 07:00 PM
BlackRock Inc. has declared victory in its months-long proxy battle against Boaz Weinstein’s Saba Capital Management. The conflict, which revolved around board seats at six of BlackRock's closed-end funds, saw shareholders vote to retain the asset manager's directors. Despite Saba's efforts to replace directors and fire the fund manager, they did not secure enough votes. The court rulings have indicated that the war between BlackRock and Saba will continue, but for now, BlackRock has successfully maintained its board positions. Data released by BlackRock on Tuesday confirmed the shareholder vote results.
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Legal counteraction • 25%
Policy changes • 25%
No major change • 25%
Issue a public apology • 25%
Make a donation to a related cause • 25%
Fire responsible marketing team members • 25%
No significant action taken • 25%
Minority Stake Acquired • 25%
Strategic Partnership Announced • 25%
Talks Fall Through • 25%
Other Outcome • 25%
Acquisition • 25%
Partnership • 25%
New Product Launch • 25%
No Major Response • 25%
Hedge Funds • 25%
Real Estate • 25%
Cryptocurrencies • 25%
Other Alternative Assets • 25%
All 10 directors nominated by Elliott are accepted • 25%
Some directors nominated by Elliott are accepted • 25%
No directors nominated by Elliott are accepted • 25%
Other outcome • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Deal finalized • 25%
Talks abandoned • 25%
Deal restructured • 25%
No public outcome • 25%
Starboard gains board seats • 25%
Starboard withdraws campaign • 25%
No significant changes • 25%
Other outcomes • 25%
Legal pressure • 25%
Market conditions • 25%
Regulatory changes • 25%
Public opinion • 25%