Saba Capital Reaches Agreements with Two BlackRock Closed-End Funds
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 21 2025
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Source: Newsfilter
Tender Offers Announcement: BlackRock Innovation and Growth Term Trust (BIGZ) and BlackRock Health Sciences Term Trust (BMEZ) will conduct cash tender offers to buy back 50% and 40% of their outstanding shares, respectively, at a price of 99.5% of their net asset value (NAV).
Agreement with Saba Capital: Saba Capital Management has entered into standstill agreements with BlackRock, allowing it to tender all its shares and withdraw shareholder proposals while adhering to certain covenants for three years.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
