After being rejected in its initial, unsolicited proposal to buy out Shurgard Storage Centers Inc. for $2.5 billion, Public Storage Inc. has retained Goldman, Sachs & Co. as a financial advisor and continues to pursue the takeover. The company remains convinced a merger would be in the best interest of Shurgard shareholders. “We are disappointed that Shurgard’s Board continues to refuse to sit down with us to explore the potential of a mutually beneficial transaction, despite the overwhelmingly positive response from shareholders and analysts to our proposal,” said Ronald Havener Jr., chief executive officer. “It remains our preference to work cooperatively with Shurgard to effectuate this transaction.” Wachtell, Lipton, Rosen & Katz serves as Public Storage’s legal counsel in connection with the deal.
- Planning Committee Approves Shurgard Self-Storage Project in Waltham Forest, England
- Shurgard Self-Storage Plans UK Expansion Following €300M Private Placement
- Wrongful-Sale Lawsuit Filed Against CA Public Storage Facility
- Self-Storage REIT Public Storage Receives $5.75M Settlement for Condemned Property in NC
- Public Storage Buys South DeBary Self-Storage in FL for $3.7M
- City Council Approves Zoning for Self-Storage Conversion Project in Crystal Lake, IL
- Texas Self Storage Association Donates $100K in 2014 to Shriners Hospital
- U-Haul Converts Former Employee-Training Center to Self-Storage in Temecula, CA
- Extra Space to Remodel Cerritos, CA, Self-Storage Facility
- Are You Offending Your Self-Storage Prospects Without Realizing It?