Life Storage rises on report Extra Space mulls takeover offer

Life Storage

22/03/2023 16:57

** Life Storage Inc's  LSI.N  shares up 2.1% at $126.44 on
report Extra Space Storage Inc  EXR.N  considering offer for its
smaller rival
    ** EXR weighing offer for LSI, according to Bloomberg News
    ** Latest offer comes about a month after LSI rejected an
$11 bln hostile bid by Public Storage  PSA.N 
    ** LSI had roughly $10.5 bln market cap through Tues, per
Refinitiv
    ** With move on Weds, LSI shares up ~28% YTD
    ** EXR shares down 1.6% at $156.12 on Weds and have ~$21 bln
market value
    ** PSA has nearly $52 bln market cap, per Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))