Tender now or lose SpaceX upside potential

It is crunch time for Edinburgh Worldwide Investment Trust (EWI). Having come under fire for the third time by activist US hedge fund Saba Capital Management, on 10 March 2026, EWI’s board announced a tender offer that enables shareholders to elect for a substantial return of capital, while preserving the potential upside from Space Exploration Technologies (SpaceX). The repeated campaigns by Saba to control EWI left the board with little choice but to propose an exit strategy. It urges shareholders to vote for the tender offer, which would allow a fair exit, and end the uncertainty caused by Saba.