(Bloomberg) -- Public Storage unveiled an unsolicited $11 billion bid Sunday for Life Storage Inc. in a move aimed at boosting profitability.Most Read from BloombergStrongest Quake in Decades Kills Hundreds in Turkey, SyriaChina Moves From Contrite to Confrontational Over US BalloonUS Moves to Recover Chinese Balloon While Weighing RetaliationUS Downs Chinese Balloon, Prompting Protests from BeijingTrump Offers $1 Million Bond to Appeal Clinton Suit SanctionsThe disclosure comes weeks after Publ
GLENDALE, Calif., February 05, 2023--Public Storage (NYSE: PSA), the nation’s leading owner, acquirer, developer, and operator of self-storage properties, today sent a letter to Mark G. Barberio, Life Storage’s Chairman, and Joseph V. Saffire, Life Storage’s CEO, copied in full below, with respect to its proposal to acquire all of the outstanding shares and units of Life Storage, Inc. (NYSE: LSI) in an all-stock transaction.
GLENDALE, Calif., February 05, 2023--Public Storage (NYSE:PSA) announced today that its Board of Trustees declared a 50% increase in the Company’s regular common quarterly dividend from $2.00 to $3.00 per share. The distribution equates to an annualized increase to the Company’s regular common dividend from $8.00 to $12.00 per share. The Board also declared dividends with respect to the Company’s various series of preferred shares. All the dividends are payable on March 30, 2023 to shareholders