Saba Capital funds reapprove merger plan targeting Q4 2026 close

The boards of trustees of Saba Capital Income & Opportunities Fund (NYSE: BRW) and Saba Capital Income & Opportunities Fund II (NYSE: SABA) have reapproved a proposal to merge the two closed-end funds, according to a press release from the funds.

Under the proposed merger, SABA would be combined into BRW. The funds are targeting a closing in the fourth quarter of 2026, subject to shareholder approval and other customary closing conditions.

The terms of the proposed merger are described as substantially identical to a previously approved merger that had been paused. Proxy materials related to the proposal are expected to be filed with the Securities and Exchange Commission.

Both funds are managed by Saba Capital Management, L.P. and trade on the New York Stock Exchange.

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