{"id":878854,"date":"2025-08-25T19:38:05","date_gmt":"2025-08-25T23:38:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ki-corporation-and-public-storage-withdraw-offer-to-acquire-abacus-storage-king\/"},"modified":"2025-08-25T19:38:05","modified_gmt":"2025-08-25T23:38:05","slug":"ki-corporation-and-public-storage-withdraw-offer-to-acquire-abacus-storage-king","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ki-corporation-and-public-storage-withdraw-offer-to-acquire-abacus-storage-king\/","title":{"rendered":"Ki Corporation and Public Storage Withdraw Offer to Acquire Abacus Storage King"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Ki Corporation and Public Storage Withdraw Offer to Acquire Abacus Storage King<\/b><\/p>\n<p>GLENDALE, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nKi Corporation and Public Storage (NYSE:PSA) (together, the \u201cConsortium\u201d) announced today the withdrawal of their non-binding indicative offer to acquire Abacus Storage King (ASX:ASK) following a comprehensive due diligence period.<\/p>\n<p>\n\u201cWe appreciate Abacus Storage King\u2019s partnership through the due diligence processes,\u201d said Joe Russell, Public Storage\u2019s Chief Executive Officer. \u201cFollowing extensive review, we were unable to match their Independent Board Committee\u2019s value assessment. This decision reflects our financial discipline and confidence in the wide array of opportunities available to continue enhancing our portfolio. Our opportunity set is expanding and, with more than $785 million acquired or under contract as of mid-year, we are executing prudently with accelerating scale to deliver growth and value creation to our shareholders.\u201d<\/p>\n<p><b><span class=\"bwuline\">About Public Storage<\/span><\/b><\/p>\n<p>\nPublic Storage, a member of the S&amp;P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At June 30, 2025, we: (i) owned and\/or operated 3,432 self-storage facilities located in 40 states with approximately 250 million net rentable square feet in the United States and (ii) owned a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels:SHUR), which owned 321 self-storage facilities located in seven Western European nations with approximately 18 million net rentable square feet operated under the Shurgard\u00ae brand. Our headquarters are located in Glendale, California.<\/p>\n<p><b><span class=\"bwuline\">Forward-Looking Statements<\/span><\/b><\/p>\n<p>\nThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release, other than statements of historical fact, are forward-looking statements which may be identified by the use of the words \u201cexpects,\u201d \u201cbelieves,\u201d \u201cintends,\u201d \u201canticipates,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201copportunity,\u201d \u201cproposed,\u201d \u201cpotential,\u201d \u201cestimates\u201d and similar expressions. These forward-looking statements involve known and unknown risks and uncertainties, which may cause actual events to be materially different from those expressed or implied in the forward-looking statements. Risks and uncertainties that may impact future results and performance include, but are not limited to, those described in Part 1, Item 1A, \u201cRisk Factors\u201d in Public Storage\u2019s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on February 24, 2025 and in its other filings with the SEC. These forward-looking statements speak only as of the date of this press release or as of the dates indicated in the statements.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250825742362r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250825742362\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250825742362\/en\/<\/a><\/span><\/p>\n<p>\nRyan Burke<br \/>\n<br \/>(818) 244-8080, Ext. 1141<\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Commercial Building &amp; Real Estate Construction &amp; Property REIT<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Ki Corporation and Public Storage Withdraw Offer to Acquire Abacus Storage King GLENDALE, Calif.&#8211;(BUSINESS WIRE)&#8211; Ki Corporation and Public Storage (NYSE:PSA) (together, the \u201cConsortium\u201d) announced today the withdrawal of their non-binding indicative offer to acquire Abacus Storage King (ASX:ASK) following a comprehensive due diligence period. \u201cWe appreciate Abacus Storage King\u2019s partnership through the due diligence processes,\u201d said Joe Russell, Public Storage\u2019s Chief Executive Officer. \u201cFollowing extensive review, we were unable to match their Independent Board Committee\u2019s value assessment. This decision reflects our financial discipline and confidence in the wide array of opportunities available to continue enhancing our portfolio. Our opportunity set is expanding and, with more than $785 million acquired or under contract as of mid-year, we are executing prudently &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ki-corporation-and-public-storage-withdraw-offer-to-acquire-abacus-storage-king\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ki Corporation and Public Storage Withdraw Offer to Acquire Abacus Storage King&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-878854","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ki Corporation and Public Storage Withdraw Offer to Acquire Abacus Storage King - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ki-corporation-and-public-storage-withdraw-offer-to-acquire-abacus-storage-king\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ki Corporation and Public Storage Withdraw Offer to Acquire Abacus Storage King - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Ki Corporation and Public Storage Withdraw Offer to Acquire Abacus Storage King GLENDALE, Calif.&#8211;(BUSINESS WIRE)&#8211; Ki Corporation and Public Storage (NYSE:PSA) (together, the \u201cConsortium\u201d) announced today the withdrawal of their non-binding indicative offer to acquire Abacus Storage King (ASX:ASK) following a comprehensive due diligence period. \u201cWe appreciate Abacus Storage King\u2019s partnership through the due diligence processes,\u201d said Joe Russell, Public Storage\u2019s Chief Executive Officer. \u201cFollowing extensive review, we were unable to match their Independent Board Committee\u2019s value assessment. This decision reflects our financial discipline and confidence in the wide array of opportunities available to continue enhancing our portfolio. 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