Activist hedge fund Saba Capital has rejected claims that it is acting unreasonably in its standoff with Impax Environmental Markets PLC, insisting that its demands are rooted in shareholder protection rather than brinkmanship.
The dispute escalated after Impax chair Glen Suarez warned that the board could pursue an exit tender offer — a move that would effectively wind up the £811m environmental investment trust — if Saba does not back a previously proposed continuation tender. Saba holds aroun...
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