Public Storage to Acquire National Storage Affiliates in Stock Deal Valued Near $45 Per Share
Public Storage (PSA) is acquiring National Storage Affiliates (NSA) in an all-stock transaction valuing NSA near $45 per share, according to published reports. The deal combines two self-storage REITs in a stock-for-stock merger.
Public Storage is acquiring National Storage Affiliates in a stock-for-stock merger that values NSA near $45 per share. The transaction combines two publicly traded self-storage real estate investment trusts in what represents a material consolidation within the defensive real estate sector.
National Storage Affiliates shareholders will receive Public Storage stock in exchange for their NSA holdings at the stated valuation. The all-equity structure means NSA investors become PSA shareholders rather than receiving cash consideration. No premium percentage versus NSA's pre-announcement trading price was disclosed in the available materials, nor were deal size, expected closing timeline, or regulatory approval requirements specified.
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