Abacus Storage King's Bid Rejection Looks Reasonable -- Market Talk

Dow Jones

2025/05/14

2310 GMT - Abacus Storage King's decision to knock back a A$1.47/share all-cash takeover proposal from $Public Storage(PSA-N)$ and family-controlled Ki Corp is reasonable, says Barrenjoey. That view reflects Abacus Storage King's latest valuation of its property portfolio and the consortium's demand for certain tax rulings. Analyst Ben Brayshaw thinks Abacus Storage King could push for a higher bid. "But National Storage REIT's presence on the register with 12.8% voting rights raises the question as to whether Ki Corp and Public Storage would have the risk appetite for a unitholder vote knowing that a proposed resolution could be defeated," says Barrenjoey. It has a A$1.52/share price target on Abacus Storage King, which ended Tuesday at A$1.525. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 13, 2025 19:10 ET (23:10 GMT)

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(david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 13, 2025 19:10 ET (23:10 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Abacus Storage King's Bid Rejection Looks Reasonable -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAbacus Storage King's Bid Rejection Looks Reasonable -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-05-14 07:10</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  2310 GMT - Abacus Storage King's decision to knock back a A$1.47/share all-cash takeover proposal from $Public Storage(PSA-N)$ and family-controlled Ki Corp is reasonable, says Barrenjoey. That view reflects Abacus Storage King's latest valuation of its property portfolio and the consortium's demand for certain tax rulings. Analyst Ben Brayshaw thinks Abacus Storage King could push for a higher bid. \"But National Storage REIT's presence on the register with 12.8% voting rights raises the question as to whether Ki Corp and Public Storage would have the risk appetite for a unitholder vote knowing that a proposed resolution could be defeated,\" says Barrenjoey. It has a A$1.52/share price target on Abacus Storage King, which ended Tuesday at A$1.525. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 13, 2025 19:10 ET (23:10 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票月供概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2535039204","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2535039204","pubTimestamp":1747177800,"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":"2310 GMT - Abacus Storage King's decision to knock back a A$1.47/share all-cash takeover proposal from Public Storage and family-controlled Ki Corp is reasonable, says Barrenjoey. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK7151":"自存仓储房地产信托","BK7010":"特种房地产投资信托","BK4217":"自存仓储房地产信托","BK4588":"碎股","NSR.AU":"NATIONAL STORAGE REIT","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)","PSA":"公共存储公司","ASK.AU":"ABACUS STORAGE KING","PSA-N":"Public Storage"},"translate_title":"算盘存储王的投标被拒绝看起来很合理--市场谈话","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ASK.AU":0.9,"PSA-N":0.72,"NSR.AU":0.9,"PSA":0.9},"content_text":"2310 GMT - Abacus Storage King's decision to knock back a A$1.47/share all-cash takeover proposal from $Public Storage(PSA-N)$ and family-controlled Ki Corp is reasonable, says Barrenjoey. That view reflects Abacus Storage King's latest valuation of its property portfolio and the consortium's demand for certain tax rulings. Analyst Ben Brayshaw thinks Abacus Storage King could push for a higher bid. \"But National Storage REIT's presence on the register with 12.8% voting rights raises the question as to whether Ki Corp and Public Storage would have the risk appetite for a unitholder vote knowing that a proposed resolution could be defeated,\" says Barrenjoey. It has a A$1.52/share price target on Abacus Storage King, which ended Tuesday at A$1.525. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 13, 2025 19:10 ET (23:10 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"}}}