Overview
- The consortium agreed to pay A$2.86 in cash per security, valuing National Storage at about A$4 billion and implying roughly a 26% premium to its late‑November price.
- National Storage’s board unanimously recommends the deal in the absence of a superior proposal, subject to an independent expert determining it is in security holders’ best interests.
- The buyers completed due diligence and signed a binding transaction deed, with completion targeted for the second quarter of 2026 pending regulatory approvals and customary conditions.
- National Storage shares rose to a record A$2.810 on Monday following the announcement.
- If completed, the transaction would be the largest take‑private of an Australian real estate firm and would take control of a network of more than 270 storage centres across Australia and New Zealand.