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Announced

Public Storage failed to acquire Life Storage for $11bn.

Financials

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Transaction Value£9,123m
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium19%
One Off Charge-

Tags

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Public

storage facilities

United States

equity REIT

real estate investment trust

Other Specialty REITs

Acquisition

Domestic

Majority

Hostile

Single Bidder

Failed

Synopsis

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Public Storage, an American international self storage company, failed to acquire Life Storage, a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities, for $11bn. On February 17, Life Storage rejected Public Storage's bid.

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