Ancora Calls for Big Yellow Sale as Shares Rise
The activist, which owns 4% of Big Yellow, says a strategic review could attract buyers for its UK storage portfolio.
Key takeaways
- Ancora Alternatives urged Big Yellow to consider a sale and said it owns 4% of the company.
- Big Yellow shares were up 6.7% at 852.5p as of 10:24 a.m. UTC.
Ancora Alternatives urged Big Yellow to consider a sale, saying the activist investor owns 4% of the UK storage company. Big Yellow shares were up 6.7% at 852.5p as of 10:24 a.m. UTC.
Ancora said the company traded at a 39% discount to the value of its assets and called for a strategic review to solicit interest from potential buyers. Big Yellow operates 113 UK storage sites, including properties in London and the South East.
Peel Hunt analysts said the share price undervalued the business and its medium-term prospects, but questioned whether a sale would adequately increase shareholder value. Big Yellow declined to comment.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
