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National Storage REIT Receives Unsolicited Non-binding Indicative Proposal from Public Storage

14 Feb 2020  |  16:46:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: NSR Market Update - Public Storage

National Storage REIT received a confidential non-binding indicative proposal from Gaw Capital Partners (GAW) to acquire 100% of the issued stapled securities of NSR. In a follow up announcement on 13 February 2020, NSR advised that discussions are ongoing with GAW in relation to its indicative proposal. NSR announced that it has also received an unsolicited non-binding indicative proposal from Public Storage to acquire 100% of the issued stapled securities of NSR for a cash price of $2.40 per stapled security by way of inter-conditional company and trust schemes. The offer price will be reduced by any distribution declared or paid by NSR after 14 February 2020, excluding the already declared December 2019 distribution of $0.047 per stapled security to be paid on 28 February 2020.

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