ESCT unveils asset allocation results of tender offer

Saba reportedly exit

Janus Henderson’s European Smaller Companies trust (ECST) has revealed the allocation of its assets to its two tender pools, following the close of the trust’s tender offer.

In total, over 50.7 million shares have been successfully tendered under the cash tender offer while more than 115.3 million shares were realised under the in specie option, according to a London Stock Exchange notice.  Saba reportedly exits ESCT after early May tender offer Earlier this week, Stifel analysts Iain Scouller and William Crighton said the 115 million shares represented the "number owned by Saba," the US activist hedge fund that had a near 30% stake in the trust.  Investment Week understands that Saba has now fully exited ESCT. The exact tender price per share is se...