Public Storage in its proposed $15 billion all-stock acquisition of Life Storage

On February 5th, 2023, Public Storage (NYSE: PSA), the nation’s leading owner, acquirer, developer, and operator of self-storage properties, proposed to acquire Life Storage, Inc. (NYSE: LSI) in an all-stock transaction, at an exchange ratio of 0.4192, representing a 19% VWAP premium.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Public Storage.