Herald Investment Trust Cancels Tender Offer Amid Saba Opposition

Herald Investment Trust has canceled its tender offer after Saba Capital Group blocked the proposal. The offer was intended to allow shareholders to sell their shares to the company at a fixed price. However, Saba, which owns 9.8% of Herald, opposed the offer and has instead proposed a different restructuring plan. The cancellation of the tender offer is a setback for Herald, which had hoped to reduce its cash balance and increase shareholder returns.