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
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