LONDON: The boards of Aberdeen Equity Income Trust Plc and Shires Income PLC said on Thursday they have agreed to combine the two investment trusts, creating a larger entity with over £289 million in assets to cut costs and boost liquidity. The deal will be structured as a scheme of reconstruction of Shires Income…
LONDON: The board of Baillie Gifford US Growth Trust (BGUS.L) said on Tuesday that activist hedge fund Saba Capital Management has moved to block a proposed “transformational merger” with a sister fund, scuppering a deal that would have offered shareholders a cash exit and a refined investment strategy. The trust said it had been…
LONDON: European Assets Trust PLC (“EAT”) and The European Smaller Companies Trust PLC (“ESCT”) have agreed to combine in a deal expected to create one of Europe’s largest small-cap investment trusts, with net assets of approximately £780 million. The transaction, structured as a scheme of reconstruction under the U.K. Insolvency Act 1986, will allow…