Quercus increases its stake in Integer

The Quercus investment group increased its holdings in the WSE-listed parcel locker operator by its umbrella fund SFIO2 to over the 5 percent mark, the firm said in a market filing. Previously, Quercus TFI announced that through its controlled funds, it has increased its stake in Integer to 7.29 percent from the previous 4.84 percent. Integer is currently subject to a takeover bid by its founder and CEO in tandem with private equity group Advent International. Quercus is not the only investment fund that has increased its stake in Integer. Aegon OFE i NN OFE has also increased their stakes in the company, hoping that the buyback offer would be increased. Last week Advent International increased the price they offer to buy back 70 percent of Integer shares to PLN 49 from initial PLN 41.1 apiece.