Saba Capital presses again for board change at Edinburgh Worldwide.

Saba Capital, Edinburgh Worldwide's largest shareholder, renewed its call for investors to elect a new independent board after what it described as a "suspiciously timed" roughly 35% reduction in Edinburgh's SpaceX holding; Saba has asked for details ahead of a January 20 vote on a proposed merger with Baillie Gifford US Growth Trust.

Edinburgh Worldwide's top shareholder, Boaz Weinstein's Saba Capital, has renewed its request that investors elect a new, independent board following a recent reduction in the trust's SpaceX holding. Saba described the roughly 35% sell-down by Edinburgh Worldwide in October as "suspiciously timed" and linked it to a planned merger with Baillie Gifford US Growth Trust. Baillie Gifford's US Growth Trust also reduced its SpaceX stake in October, which Saba noted. Saba has pressed for transparency on the timing, valuation and rationale of the stake sale ahead of a January 20 shareholder vote on the proposed merger and the future board composition. Key points: - Saba Capital is the largest shareholder in Edinburgh Worldwide and has called for a new, independent board. - Saba said Edinburgh Worldwide cut its SpaceX holding by about 35% in October and called the timing "suspicious." - Baillie Gifford US Growth Trust reduced its SpaceX stake by roughly 49% in the same month, according to Saba. - Saba has requested clear information on the timing, valuation and rationale for the sales ahead of a January 20 vote. - Edinburgh Worldwide and Baillie Gifford US Growth Trust did not immediately respond to Reuters' requests for comment. Summary: Saba's renewed campaign centers on governance questions and disclosure around the SpaceX stake reduction. The issues will be considered at a January 20 shareholder vote on a proposed merger with Baillie Gifford US Growth Trust. Outcome is undetermined at this time.