Saba Capital Enters into Standstill Agreement with Clough Global
July 10, 2017 at 02:24 pm
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On July 10, 2017, Saba Capital Management, L.P. announced that, in connection with Clough Global Dividend and Income Fund, Clough Global Equity Fund, and Clough Global Opportunities Fund and their respective Boards agreeing to take the actions set forth in the respective standstill agreements, Saba Capital Management has agreed to (1) tender all shares of the Funds owned by it in the tender offers, (2) be bound by certain 'standstill' covenants through July 10, 2021, and (3) vote its remaining shares on all proposals submitted to shareholders in accordance with the recommendation of management through July 10, 2021, it has withdrawn its slate of nominees to serve as trustees of each Fund. In addition, Saba Capital Management stated that it has also withdrawn the proposals for Clough Global Dividend and Income Fund and Clough Global Opportunities Fund seeking a shareholder vote regarding the classified board structure of the Funds.
Clough Global Equity Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide a high level of total return. The Fund is focused on achieving its objective by applying a fundamental research-driven investment process and will invest in equity securities of companies of any market capitalization and equity-related securities, including equity swaps and call options, as well as fixed income securities, including both corporate and sovereign debt, in both United States and non-United States markets. It intends to invest primarily in a managed mix of global equity securities. The Fund focuses on investing in a range of sectors, including consumer discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials, real estate, and utilities. Clough Capital Partners L.P. serves as the investment advisor of the Fund.
CLOUGH GLOBAL EQUITY FUND 
