Latest news with #AbacusStorageKing
AU Financial Review
13-05-2025
- Business
- AU Financial Review
Storage giant rejects $1.9b buyout bid in fresh takeover twist
Abacus Storage King has rejected a $1.9 billion buyout bid from a consortium comprising a South African billionaire and a United States giant, stoking a potential takeover tussle in the normally staid world of storage. The directors of Abacus Storage King, which operates 210 self-storage sites across Australia and New Zealand, said the $1.47 a share offer was inadequate, pointing to a new independent valuation of the group's warehouse portfolio at a net asset value of $1.73 a share.
Yahoo
12-05-2025
- Business
- Yahoo
Australia's Abacus Storage King rejects $1.2 billion takeover bid
(Reuters) - Australia's Abacus Storage King said on Tuesday it had rejected an unsolicited takeover offer from a consortium of Ki Corporation and Public Storage, which valued the firm at A$1.93 billion ($1.23 billion). ($1 = 1.5686 Australian dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
AU Financial Review
29-04-2025
- Business
- AU Financial Review
Pressure builds for better offer in battle for Abacus Storage King
A consortium led by South African billionaire Nathan Kirsh may need to increase its $1.9 billion takeover offer for Abacus Storage King after a rival operator bought a small stake in the self-storage player, potentially blocking the proposed buy-out, according to analysts. The surprise move this week from National Storage REIT – known by its ticker NSR – gives it a beachhead of near 4.8 per cent in the register of its listed rival. But, as analysts were quick to note, a takeover transaction could be blocked with a stake of just 10 per cent, or even less.
AU Financial Review
28-04-2025
- Business
- AU Financial Review
South African billionaire in $1.9b play for Abacus Storage King
South African tycoon Nathan Kirsh has joined forces with New York-listed Public Storage in a takeover offer for Abacus Storage King that values the ASX-listed self-storage operator at around $1.93 billion. Through his family office Ki Corporation, Kirsh already controls 59.47 per cent of the register of Abacus Storage King – known by its ticker as ASK. That stake is both directly and indirectly, through Kirsh's substantial interest in Abacus Group, which manages ASK and retains a shareholding in it.
Bloomberg
08-04-2025
- Business
- Bloomberg
Billionaires Seek to Take Companies Private Amid Market Mayhem
For some of the world's wealthiest people, the bedlam in global markets has added greater urgency to take major portfolio companies private. As stock markets sank everywhere Monday, South Africa-born billionaire Natie Kirsh's investment company announced it had teamed up with US-listed Public Storage on a take-private deal for Abacus Storage King. Kirsh is the biggest shareholder in the Australian self-storage group, which the offer values at about A$1.9 billion ($1.1 billion). The 93-year-old businessman had a fortune estimated at $9.2 billion as of Monday, the Bloomberg Billionaires Index shows.
