Australia's Abacus Storage set for best week ever after buyout offer

Abacus Storage King

11/04/2025 02:17

** Shares of Abacus Storage King ASK.AX set for 24.6% weekly gain, its biggest pct rise ever

** Self storage facilities operator received buyout bid from a consortium on Monday, valuing the firm at A$1.93 billion  ($1.20 billion)

** Offer price of A$1.47 represents a 26.7% premium to Abacus' closing price on April 4

** Co says it will be commencing an assessment of the proposal

** Shares 0.3% lower at A$1.445 in the current session

** Stock up 28.4% YTD vs 7.5% drop in ASX 200 benchmark .AXJO

($1 = 1.6103 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))