Irenic and Ancora push Big Yellow Group to explore a sale
Ancora Holdings Group is calling on UK self-storage operator Big Yellow Group to explore a potential sale after acquiring a stake of more than 4%, according to a Bloomberg report cited by Hedgeweek. Irenic Capital Management has acquired a roughly 4% stake and joined Ancora in pushing the FTSE 250 company to consider a sale, per a Financial Times report cited by Hedgeweek. Ancora estimates Big Yellow's shares trade at a 40% discount to net asset value, and the shares have fallen 25% over the past year.