Irenic Takes Stake in Big Yellow and Seeks Sale
Activist investor Irenic Capital Management has acquired a four percent stake in Big Yellow Group and is urging the UK self storage firm to explore a sale. Shares rose following reports that the company is evaluating strategic options to maximize value.
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Irenic Capital Management took a 4% stake in Big Yellow Group and is urging the self-storage provider to explore a sale, according to the Financial Times. The campaign follows a similar 4% stake and public push by Ancora Holdings earlier in the week. Irenic argues the company's shares are undervalued and has pressed directors to evaluate strategic alternatives.
