Australia's Abacus Storage slips as Public Storage abandons $1.4 bln pursuit

Storage King

26/08/2025 01:47

** Abacus Storage King ASK.AX slips as much as 12% to A$1.36, lowest since April 7

** Stock set for worst intraday drop ever

** Self-storage firm says U.S.-based Public Storage-led PSA.N consortium withdrew A$2.17 bln ($1.41 bln) takeover offer for co

** Co did not disclose any reason behind withdrawal

** Around 2.2 mln shares traded vs 30-day avg of 746,538

** ASK gains 24.4% YTD

($1 = A$1.5389)

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))