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InsideArbitrage Potential Deal Alert: Public Storage (PSA) makes $11 billion hostile bid for Life Storage (LSI)

  • February 6, 2023


Stock Life Storage, Inc. Symbol LSI
Date Announced 02/05/2023 Source Reuters
Type Unsolicited Bid Acquiring Company/Person Extra Space Storage Inc.
Date of Confirmation: 04/03/2023 Price at Confirmation: $131.09
Potential Profit: 6.53% Annualized Profit: 41.84%

Public Storage (PSA), the largest U.S. operator of self-storage properties, unveiled an $11 billion hostile bid for Life Storage Inc (LSI), ratcheting up attempts to buy its smaller rival after its earlier takeover attempts were rebuffed.

Under the proposed all-stock deal, Life Storage shareholders would receive 0.4192 share of Public Storage for each Life Storage share or unit, which equates to $129.3 per share based on Public Storage’s closing share price


February 16, 2023: Life Storage, Inc. (LSI), announced that the company’s Board of Directors unanimously concluded that the acquisition proposal submitted by Public Storage (PSA) on February 5, 2023, significantly undervalues Life Storage and its prospects for future growth and value creation.




Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.