NCM News: Public Storage Bids for Rival in Unsolicited $11 Billion Offer - 6th Feb 2023, 10:53am

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Public Storage has made an $11 billion unsolicited offer for Life Storage ramping up an effort to buy its smaller rival after an earlier bid was rejected. Public Storage said it sent a letter to Life Storage’s management on Sunday detailing its all-stock proposal, worth about $129 a share, confirming an earlier report by The Wall Street Journal. Life Storage shares closed Friday at $110.58.

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