March 18, 2020 / 4:27 AM / 11 days ago

Australia's National Storage REIT says Public Storage drops $1.25 bln takeover bid

March 18 (Reuters) - Australia’s largest self-storage operator, National Storage REIT, said on Wednesday that Public Storage decided not to pursue a takeover offer of $1.25 billion, because of market conditions stemming from a coronavirus outbreak.

U.S.-based Public Storage had offered A$2.40 a share for National Storage last month. ($1=1.6620 Australian dollars) (Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Clarence Fernandez)

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