The activist hedge fund Hanover Investors has spent £4.5 million (€5.1 million) on doubling its holding in the Smurfit-backed Irish postal technology company Escher.
Hanover picked up 2.3 million shares in Escher on June 23, when the company’s share price was trading around £1.97. Given that Hanover is a well-known buyout and turnaround investor, its aggressive stake-building has led to speculation that Escher might now be in play.
Hanover has nearly doubled its position in...
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