Irenic Capital moves to rustle up takeover interest in Upper Crust owner SSP, FT reports

Group 1 - Activist hedge fund Irenic Capital Management is seeking interest in a take-private deal for SSP Group, the owner of Upper Crust, after increasing its stake in the company [1][2] - Irenic Capital Management is encouraging private equity groups to consider takeover bids, suggesting that SSP could be valued at a 50% premium to its current market value [2][3] - SSP Group's shares rose over 8% to 168.6 pence following the news, indicating positive market reaction [3] Group 2 - SSP Group operates food and beverage outlets in travel locations, focusing on airports, train stations, and other travel hubs [4] - Irenic Capital Management currently holds approximately 3% of SSP's stock, highlighting its significant but minority stake in the company [4]