UNITE GROUP PLC

Hedge fund Qube Research & Technologies has boosted its stake in student accommodation provider Unite Group to over 1%, a regulatory filing showed Friday, amid the company's ongoing takeover of rival Empiric Student Property.

Unite Group said Monday its takeover target, Empiric Student Property, has seen a drop in occupancy for the current academic year, a challenge the student-housing giant said it had anticipated.

Unite Group's planned acquisition of rival Empiric Student Property is facing a formal investigation by the UK's competition regulator, the company said on Wednesday.

Unite Group PLC reported strong bookings for the upcoming academic year, driven by high demand from both domestic and international students, supporting its outlook for rental growth.

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.