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Franklin Templeton Strikes Back at Saba in Closed-End Battle
The $1.41 trillion mutual fund giant is issuing preferred stock that dilutes common shareholders’ control at three of its closed-end funds.
Forget Sunday’s World Cup final between Argentina and France. The real nailbiter is the current closed-end fund smackdown between Franklin Templeton and Saba Capital Management. Franklin Templeton is striking back hard at Saba by issuing mountains of new preferred stock in three closed end
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