Matthew Read comments on Saba’s IEM stake in Patrick Sanders’ article:
“First, given that Saba could not have known how much its fellow shareholders were tendering, how has it very conveniently ended up with 29.9% of IEM post the tender offer?”
“This feels way too precise to be a lucky guess, so did Saba have an extra box on its tender forms that allowed it to tender just the amount needed that wasn’t available to other shareholders?”
Read the article here