Shurgard agrees $474 mln deal to buy self-storage rival Lok'nStore

Shurgard Self Storage

11/04/2024 07:21

LONDON, April 11 (Reuters) - European self-storage
company Shurgard  SHUR.BR  has agreed to buy UK-listed rival
Lok'nStore  LOK.L  in a deal worth 378 million pounds ($474
million), the companies said in a joint statement on Thursday.
    Shurgard has agreed to spend 11.10 pounds in cash for each
Lok'n Store share, which it said represents a 15.9% premium to
its closing price on April 10.
($1 = 0.7977 pounds)

 (Reporting by Iain Withers
Editing by David Goodman
)
 ((Iain.Withers@thomsonreuters.com;))