Public Storage plans to acquire peer National Storage for approximately $10.5 billions.

格隆汇 March 17｜The leading U.S. self-storage company Public Storage has agreed to acquire its peer National Storage Affiliates in an all-stock deal valued at approximately $10.5 billions. The transaction is expected to be completed in the third quarter. According to the agreement, holders of National Storage's common stock and operating partnership units will receive Public Storage shares, with 0.14 shares of Public Storage stock granted for each share or unit held. The merged company is expected to have a market capitalization of about $57 billions.