Big Yellow says it's 'continually' evaluating all options after Ancora calls for sale

(Sharecast News) - Big Yellow said on Thursday that it was "continually" evaluating all options for maximising shareholder value after activist investor Ancora Holdings Group urged the self-storage company to explore a sale. The company noted that in December 2025, it received an indication from an interested party of a valuation level at which it could make a proposal. However, the board concluded that it was not at a level that reflected the full potential of the group and discussions were terminated.

"The board and management team continue to focus on executing the company's clear and proven strategy," it said on Thursday. "The board is also cognisant of its fiduciary duties and continually evaluates all options for maximising shareholder value."

The statement came after Ancora - which has a stake of more than 4% - said Big Yellow was "materially" undervalued in the public market due to slow UK economic growth, a weak domestic housing market, the failed take-private by Blackstone in 2025 and its "capital-intensive yet high-potential" property development pipeline.

It urged the board to launch a comprehensive strategic review, including a sale process, "soliciting interest from the deep pool of likely strategic and financial acquirers globally". It said a sale of Big Yellow represents "the best risk-adjusted" outcome for shareholders.

At 0910 BST, the shares were up 3.7% at 873p.

See latest RNS on Sharecast