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.
