A regulatory filing from major investor The Vanguard Group indicates that a potential takeover of Empiric Student Property by its larger rival Unite Group is still under consideration.
In a disclosure published Monday, Vanguard confirmed its dealings in Unite shares also relate to Empiric, a requirement under UK takeover rules for parties involved in an offer.
The filing showed Vanguard purchased 4,305 shares in Unite on July 11, raising its total stake in the student accommodation provider to 4.53%.
The purchases were made at prices of 8.02 and 8.04 British Pounds per share.
Unite made a non-binding proposal for Empiric in early June, valuing the company at approximately 719 million British Pounds at the time.
While an initial deadline for Unite to make a firm offer passed on July 3, the continued disclosures suggest talks between the two companies have been extended.
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