Australia's National Storage REIT hits over 3-1/2-year high after buyout offer

National Storage REIT

27/11/2025 01:16

Updates

** Shares of National Storage REIT NSR.AX rise as much as 0.7% to A$2.72, their highest level since April 22, 2022

** Australia's largest self-storage provider said on Wednesday it had received A$4.02 billion ($2.62 billion) buyout offer from a consortium of Brookfield BAM.N and Singapore's GIC

** Trading in NSR shares was halted pending announcement on Wednesday, before stock jumped 19.5% to A$2.70 in the final settlements after market close, LSEG data showed

** Offer price of A$2.86/share represents a 26.5% premium to Tuesday's close

** Morningstar increases fair value estimate by 8% to A$2.8 following the bid

** Investment research firm says the deal more likely to move ahead, adds it is still subject to several conditions, including approval from the Foreign Investment Review Board (FIRB)

** Nearly 34 million shares change hands, 7.8x the 30-day average

** YTD, stock up 15.6%, including the session's gains

($1 = 1.5326 Australian dollars)

 (Reporting by Sherin Sunny and Nikita Maria Jino in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))