Western Investment filed a 14A regarding their proxy battle with the management of DWS Global Commodities Stock Fund (GCS). Western reiterates that its interests are alligned with shareholders because they hold 14.5% of outstanding shares. However most alarmingly, the discount to NAV has reached an astonishing 18%! That means selling shareholders can only get 82 cents on the dollar for the assets their shares represent. If you’re a current shareholder of GCS, I would urge you to vote for Western Investment’s nominees. If you’re not a shareholder, I think this is a great special opportunity where you can simply play the discount to narrow.
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This blog is produced by Douglas Ott, an employee of Banyan Capital Management as an outside business activity. As such, Banyan Capital Management does not review or approve materials presented herein. By viewing or participating in discussion on this blog, you understand that the opinions expressed within do not reflect the opinions or recommendations of Banyan Capital Management, but are the opinions of the author and individual participants.
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