comments The war of words between investment trust Edinburgh Worldwide and a US hedge fund raider has intensified, with both sides accusing the other of misleading shareholders. The boss of Edinburgh Worldwide Investment Trust (EWIT) said investors must turn out in force to prevent Saba Capital ‘from taking control on the cheap’. But Saba chief Boaz Weinstein – whose firm holds 30 per cent of the shares – hit back and demanded answers over the London-listed trust’s decision to sell down its stake in Elon Musk’s SpaceX. The clash came ahead of a crucial shareholder vote this month on Saba’s plans to unseat the board and replace them with its own placemen. Edinburgh Worldwide’s defence has been bolstered by the backing of Legal & General and shareholder advisory group ISS. Chairman Jonathan Simpson-Dent said: ‘Shareholders should not be swayed by Saba misrepresenting the facts, ignoring the significant progress made following the implementation of the path for growth strategy and remaining silent on their ultimate objectives. Raider: Saba Capital chief Boaz Weinstein (pictured) demanded answers over Edinburgh Worldwide Investment Trust's decision to sell down its stake in Elon Musk’s SpaceX ‘Shareholders must turn out in force to prevent Saba from taking control.’ But describing SpaceX as the ‘crown jewel’ in the portfolio, Weinstein said selling at a price ‘far below’ the current value was ‘self-evidently unacceptable’ and done ‘without consulting shareholders’. RELATED ARTICLES