Australia’s National Storage REIT said on Wednesday it has received a A$4.02 billion ($2.61 billion) takeover offer from a consortium including Brookfield and GIC Investments.
Under the offer, the consortium has proposed to pay National Storage shareholders A$2.86 in cash per share, a 26.5% premium to the stock’s last close on Tuesday.
National Storage said it has agreed to provide exclusive due diligence access to the consortium till December 7.
The offer comes after an earlier confidential proposal and certain negotiations, including providing limited due diligence to the consortium, the company said in a statement.
Reuters
