Today's Brief
BNY Mellon Strategic Municipals, Inc.
Reporting person: Saba Capital Management, L.P.(fund)
Saba Capital seeks board seat at BNY Mellon Strategic Municipals
Contested meetinghigh confidence9.76% stake
Contest Strategydissident slate, solicitors, demands
Contested annual
What's being contested
Board seats
IssuerBNY Mellon Strategic Municipals, Inc.
Issuer solicitor—
Reporting personSaba Capital Management, L.P. (fund)
Dissident solicitorInvestorCom
Stake6,076,820 sh9.76%
Dissident counsel—
Cost basis—
Meeting date—
Record date—
Dissident slate (1)
- Paul Kazarian
Primary demands
- board refreshment
- address trading discount to NAV
- fresh ideas and perspectives
Advisors
No advisor data on record for this deal.
Sources
Saba Capital Management, L.P., Saba Capital Master Fund, Ltd., and Boaz R. Weinstein are soliciting proxies to elect Paul Kazarian as a Class II director of BNY Mellon Strategic Municipals, Inc. Saba, which beneficially owns 9.76% of outstanding Common Shares as of the proxy statement date, believes the Fund's board needs fresh perspectives to address the Fund's trading discount to net asset value. The 2026 annual meeting of shareholders is scheduled to be held virtually, with voting to occur by plurality of shares.
Item id: fa7548fd-c3aa-4c0b-bdb3-8bffba087ec1 · ingested Apr 24, 2026