Extra Space Storage (EXR) will combine with Life Storage (LSI) in a $12.7B deal, The Wall Street Journal’s Lauren Thomas reports. According to executives from the companies, Life Storage stockholders are set to receive 0.8950 of an Extra Space share for each share they own, or $145.82. Life Storage stock closed Friday at $131.09, giving the company a market value of $11.2B. Public Storage (PSA) previously bid $129 a share for Life Storage, which said the offer "significantly" undervalued the business. The Extra Space Storage and Life Storage deal is expected to be announced on Monday. Reference Link
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on EXR:
- Extra Storage Down after Merger with Life Storage in Deal Worth $12.4 Billion
- Extra Space Storage & Life Storage Combine to Form the Preeminent Storage Operator
- Evercore sees challenges for office REIT, reaffirms Extra Space price target
- Extra Space working on potential bid for Life Storage, Bloomberg says
- Extra Space Storage price target raised to $165 from $160 at Truist