Ki Corporation and Public Storage scrap $2.2b Abacus Storage King buyout
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The news: Abacus Storage King has said that its joint suitors Ki Corporation and Public Storage have withdrawn their $2.2 billion proposal to acquire the self-storage company.
The context: South Africa’s Ki Corporation and US-listed Public Storage were granted a six-week period of due diligence last month.
The Abacus board rejected a previous bid by the suitors in May, saying the offer price did not reflect fair value.
The source: ASX
