UK's Lok'nStore hits record high on Shurgard deal

Shurgard Self Storage

11/04/2024 08:46

** Shares of UK-based self-storage provider Lok'nStore
 LOK.L  up nearly 18% at 1,130p; stock among top gainers across
all London stocks
    ** Stock climbs to an all-time high
    ** European self-storage co Shurgard  SHUR.BR  agrees to
acquire LOK for about 378 mln pounds ($474.39 mln)
    ** SHUR offers 10.10 pounds in cash for each LOK share
    ** "The acquisition will allow Shurgard to increase its
footprint in the two most attractive target markets outside of
London," says company 
    ** As of last close, stock up ~21.6 % in the last twelve
months

   ($1 = 0.7968 pounds)

 (Reporting by DhanushVignesh Babu in Bengaluru)
 ((DhanushVignesh.Babu@thomsonreuters.com;))