BUZZ-Australia's Abacus Storage King remains potential takeover target, Citi says

Reuters12-11

BUZZ-Australia's <a href="https://laohu8.com/S/ASK.AU">Abacus Storage King</a> remains potential takeover target, Citi says

** Citi views Abacus Storage King ASK.AX as an attractive target for a takeover and sees risk to the upside on a potential merger and acquisition

** Public Storage-led PSA.N consortium in August abandoned its A$2.17 billion ($1.44 billion) takeover offer for the self-storage firm

** Citi says Abacus stock now trading at a 13.8% discount to its net tangible assets (NTA), making a potential transaction closer to NTA more attractive for bidders and shareholders

** Adds Public Storage's previous offer in April and sweetened bid in July signals strong interest in Abacus; recent buyout of rival National Storage REIT shows financial players willing to pay a premium for such self-storage transactions

** Citi also says an internalisation of co's management would simplify its structure and prompt better alignment of management with shareholders, making the business more attractive from a bidder's perspective

** Brokerage rates the stock "neutral", target price A$1.5

** Stock up 32.9% so far this year, as of last close

($1 = 1.5060 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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recent buyout of rival National Storage REIT shows financial players willing to pay a premium for such self-storage transactions</p><p>** Citi also says an internalisation of co's management would simplify its structure and prompt better alignment of management with shareholders, making the business more attractive from a bidder's perspective</p><p>** Brokerage rates the stock \"neutral\", target price A$1.5</p><p>** Stock up 32.9% so far this year, as of last close</p><p>($1 = 1.5060 Australian dollars)</p><p> (Reporting by Nikita Maria Jino in Bengaluru)</p><p> ((Nikita.Jino@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7154","symbol_name":"办公室房地产信托","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251210:nL6N3XG13U:1","article_id":"2590532713","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2590532713","pubTimestamp":1765393586,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Australia's Abacus Storage King remains potential takeover target, Citi says** Citi views Abacus Storage King ASK.AX as an attractive target for a takeover and sees risk to the upside on a potential merger and acquisition** Public Storage-led PSA.N consortium in August abandoned its A$2.17 billion  takeover offer for the self-storage firm** Citi says Abacus stock now trading at a 13.8% discount to its net tangible assets , making a potential transaction closer to NTA more attractive for bidders and shareholders** Adds Public Storage's previous offer in April and sweetened bid in July signals strong interest in Abacus; 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recent buyout of rival National Storage REIT shows financial players willing to pay a premium for such self-storage transactions** Citi also says an internalisation of co's management would simplify its structure and prompt better alignment of management with shareholders, making the business more attractive from a bidder's perspective** Brokerage rates the stock \"neutral\", target price A$1.5** Stock up 32.9% so far this year, as of last close($1 = 1.5060 Australian dollars) (Reporting by Nikita Maria Jino in Bengaluru) ((Nikita.Jino@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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