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Australia's Abacus Storage King opens books for $1.41 billion takeover bid
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Australia's Abacus Storage King opens books for $1.41 billion takeover bid
Jul 20, 2025 4:31 PM

July 21 (Reuters) - Abacus Storage King ( ABSKF ) has

granted the consortium comprising Ki Corporation and Public

Storage ( PSA ) access to examine the company's books and

records for six weeks to evaluate its A$2.17 billion ($1.41

billion) binding acquisition proposal.

The consortium earlier in this month raised its bid to

A$1.65 per share for the Australian self-storage firm.

Abacus Storage in May rejected the group's earlier offer,

citing risks surrounding valuation, timing and deal completion.

Businessman Nathan Kirsh's family office Ki Corp directly

and indirectly controls 59.39% of Abacus Storage. If a deal goes

through, Ki Corp and Public Storage ( PSA ) would own 50% each in the

firm.

At present there is no certainty that the parties will be

able to agree terms to implement the revised proposal, Abacus

Storage King ( ABSKF ) said.

($1 = 1.5375 Australian dollars)

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