Why National Storage Affiliates Stock Soared Today
Shares of National Storage Affiliates (NYSE: NSA) surged on Monday after the real estate investment trust (REIT) struck a deal to be acquired by Public Storage (NYSE: PSA).
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Under the terms of the deal, Public Storage would purchase National Storage Affiliates for $10.5 billion, including debt. Investors would receive 0.14 of a share of Public Storage stock for every share of National Storage Affiliates they own. That equates to $41.68 per share, a premium of roughly 35%, based on the companies' closing prices on Friday.
Source Fool.com
