Abacus Storage King Suitor May Need to Raise Offer Again -- Market Talk

Dow Jones

2025/07/14

0055 GMT - Public Storage and consortium partner Ki Corp have now offered enough to get Abacus Storage King to open its books. But Citi is doubtful it's sufficient to get a deal done. The consortium's offer of A$1.65/security values Abacus Storage King's equity at A$2.17 billion. Analyst Howard Penny says it signals continued interest in self-storage assets from large global investors. The revised offer also appears more acceptable to the board of Abacus Storage King. "However, in our view, a further revised offer above net tangible assets per share may be necessary to convince minority shareholders to agree to the deal," Citi says. That's because of likely cap rate compression and compelling fundamentals for Australian self-storage assets, it says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 13, 2025 20:55 ET (00:55 GMT)

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But Citi is doubtful it's sufficient to get a deal done. The consortium's offer of A$1.65/security values Abacus Storage King's equity at A$2.17 billion. Analyst <a href=\"https://laohu8.com/S/HBMD\">Howard</a> Penny says it signals continued interest in self-storage assets from large global investors. The revised offer also appears more acceptable to the board of Abacus Storage King. \"However, in our view, a further revised offer above net tangible assets per share may be necessary to convince minority shareholders to agree to the deal,\" Citi says. That's because of likely cap rate compression and compelling fundamentals for Australian self-storage assets, it says. 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But Citi is doubtful it's sufficient to get a deal done. The consortium's offer of A$1.65/security values Abacus Storage King's equity at A$2.17 billion. Analyst <a href=\"https://laohu8.com/S/HBMD\">Howard</a> Penny says it signals continued interest in self-storage assets from large global investors. The revised offer also appears more acceptable to the board of Abacus Storage King. \"However, in our view, a further revised offer above net tangible assets per share may be necessary to convince minority shareholders to agree to the deal,\" Citi says. That's because of likely cap rate compression and compelling fundamentals for Australian self-storage assets, it says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 13, 2025 20:55 ET (00:55 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2551921678","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2551921678","pubTimestamp":1752454500,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0055 GMT - Public Storage and consortium partner Ki Corp have now offered enough to get Abacus Storage King to open its books. But Citi is doubtful it's sufficient to get a deal done. The consortium's offer of A$1.65/security values Abacus Storage King's equity at A$2.17 billion. Analyst Howard Penny says it signals continued interest in self-storage assets from large global investors. The revised offer also appears more acceptable to the board of Abacus Storage King. \"However, in our view, a further revised offer above net tangible assets per share may be necessary to convince minority shareholders to agree to the deal,\" Citi says. That's because of likely cap rate compression and compelling fundamentals for Australian self-storage assets, it says. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BK4585":"ETF&股票定投概念","BK7151":"自存仓储房地产信托","PSA":"公共存储公司","BK4217":"自存仓储房地产信托","ASK.AU":"ABACUS STORAGE KING","BK4084":"特种房地产投资信托","BK4533":"AQR资本管理(全球第二大对冲基金)"},"translate_title":"Abacus存储王收购者可能需要再次提高报价——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PSA":0.9,"ASK.AU":0.9},"content_text":"0055 GMT - Public Storage and consortium partner Ki Corp have now offered enough to get Abacus Storage King to open its books. But Citi is doubtful it's sufficient to get a deal done. The consortium's offer of A$1.65/security values Abacus Storage King's equity at A$2.17 billion. Analyst Howard Penny says it signals continued interest in self-storage assets from large global investors. The revised offer also appears more acceptable to the board of Abacus Storage King. \"However, in our view, a further revised offer above net tangible assets per share may be necessary to convince minority shareholders to agree to the deal,\" Citi says. That's because of likely cap rate compression and compelling fundamentals for Australian self-storage assets, it says. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 13, 2025 20:55 ET (00:55 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}