A regulatory filing by major investor The Vanguard Group has fueled speculation about a potential merger between British student accommodation providers Unite Group and Empiric Student Property.
In a disclosure dated July 9, Vanguard, which holds a 4.52% stake in Unite, stated it was also making disclosures in respect of Empiric Student Property.
Under UK takeover rules, such a disclosure is required when a shareholder is involved with parties to a potential offer.
The filing noted that on July 8, Vanguard purchased 11,123 shares in Unite at a price of 8.16 British Pounds per share.
Similar filings from Vanguard in early June and early July also linked the two student housing companies, though disclosures in mid-June did not mention Empiric.
The development comes as Unite reported strong trading, with 85% of its beds sold for the 2025/26 academic year, according to a July 8 update.
Unite reiterated its full-year earnings guidance and highlighted positive momentum from growing student demand.
"Student numbers are expected to increase for the 2025/26 academic year due to a growing UK 18-year-old population and improving trends in international student recruitment," Unite Chief Executive Officer Joe Lister said in the update.
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