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Alternative Market Briefing

Saba Capital enters deal with First Trust Strategic to promptly commence tender offer
Friday, August 18, 2017

Komfie Manalo, Opalesque Asia:

New York-based hedge fund firm Saba Capital Management has entered into an agreement with First Trust Strategic High Income Fund II to commence a cash tender offer for up to 15% of the fund's outstanding common shares of beneficial interest at a price per share equal to 98% of the fund's net asset value per share.

Saba said in a statement, "We are pleased to have reached this agreement with the board of First Trust and believe this outcome best serves the interests of the fund and all of its shareholders. We appreciate the board's constructive engagement, and are con......................

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