US activist hedge fund Saba Capital has agreed to withdraw its requisition notice at another of the four investment trusts targeted in its ‘Plan B’ campaign.
In a stock exchange notice last week (21 February), the board of Middlefield Canadian Income PCC revealed that, having received Saba's letter requisitioning the trust to convene a general meeting, it has since consulted with a number of its shareholders, including Saba. According to Middlefield, "following constructive discussions, Saba has agreed to withdraw the requisition for a period of 60 days to enable the company and its advisers to formulate proposals that are in the best interests of all shareholders". This latest decision follows a similar agreement between Saba and Janus H...
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