Ki Corporation and Public Storage (PSA) announced a revised non-binding indicative offer to acquire Abacus Storage King (ASK.AX) for cash consideration of A$1.65 per stapled security. The Consortium and Abacus Storage King have agreed to proceed with due diligence based on the revised terms.
Ki Corporation and Public Storage said that their discussions with Abacus Storage King are preliminary in nature and any transaction would be subject to processes for acquisition of widely held entities under Australian law, including securityholder approval. There is no assurance the parties will reach a definitive agreement or consummate a transaction or that if such an agreement is reached, it will be on terms similar to those set forth herein.
In a separate press release, Abacus Storage King confirmed that it has received a revised proposal from the consortium. The revised proposal represents a about 15% increase on the Consortium's initial proposal.
The revised proposal remains subject to a number of conditions. This includesregulatory approvals from FIRB and the New Zealand Overseas Investment Office and receipt by the Consortium of certain tax rulings.
For comments and feedback contact: editorial@rttnews.com
Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.