Extra Space Storage has struck a $12.7 billion deal with Life Storage, which earlier rejected an unsolicited offer from Public Storage
Extra Space Storage Inc. has struck a $12.7 billion deal to combine with smaller rival Life Storage Inc., which earlier rejected a bid from industry behemoth Public Storage, executives from the companies said.
Life Storage stockholders are set to receive 0.8950 of an Extra Space share for each share they own, or $145.82, the companies plan to announce later Monday. That is more than 30% above Life Storage’s stock price before The Wall Street Journal for the company. Life Storage stock closed Friday at $131.09, giving the company a market value of $11.2 billion.
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The eyes have it! Focus on microgravity's impact on astronaut visionLeonard David is an award-winning space journalist who has been reporting on space activities for more than 50 years. Currently writing as Space.com's Space Insider Columnist among his other projects, Leonard has authored numerous books on space exploration, Mars missions and more, with his latest being 'Moon Rush: The New Space Race' published in 2019 by National Geographic. He also wrote 'Mars: Our Future on the Red Planet' released in 2016 by National Geographic. Leonard has served as a correspondent for SpaceNews, Scientific American and Aerospace America for the AIAA. He was received many awards, including the first Ordway Award for Sustained Excellence in Spaceflight History in 2015 at the AAS Wernher von Braun Memorial Symposium. You can find out Leonard's latest project at his website and on Twitter.
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