This fight looks unfair. In one corner stands Elliott Advisors, the UK end of an aggressive $34bn US hedge fund that can often be found telling FTSE 100 firms, such as mining titan BHP and hotelier Whitbread, how to reorganise their businesses. In the other corner is Saga, the insurance and cruise ship firm that is a long way from the big time. The over-50s specialist is valued at a mere £550m these days after a 75% fall in its share price since flotation in 2014.