Hanover doubles stake in Smurfit-backed Escher

Hanover has a history of involvement in boardroom coups and corporate turnarounds

Barry J Whyte

Chief Feature Writer @whytebarry
2nd July, 2017
Michael Smurfit

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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