BlackRock Advisors announced that independent proxy advisory firm Glass Lewis has issued recommendations for the reelection of ALL of BlackRock’s board nominees and against all proposals put forth by dissident shareholder Saba Capital at the upcoming contested meetings for ten closed-end funds advised by BlackRock. “We applaud Glass Lewis for backing our incumbent Board nominees and rejecting every Saba proposal to terminate BlackRock as investment manager. These recommendations, along with the strong support we received from ISS, highlight the strength of our Board members, the quality of our portfolio management team and our continued legacy of delivering for all shareholders,” said R. Glenn Hubbard, chair of the boards of BlackRock Closed-End Funds.
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