Lok’nStore became the latest target of a high-premium overseas buyout, in a bid from Brussels-listed rival Shurgard valuing the temporary storage firm’s stock at £378 million.
The 1110p per share offer came in 16% above yesterday’s closing price, even after a strong recent rally for the stock. The offer was almost 37% higher than the wider, three-month “volume-weighted” average price used by bankers to price deals.
It was high enough to secure backing from Lok’nStore’s board, while also playing into fears over the deepening trend for firms to leave London.
Tony Cross, at the City’s stock market database Investegate, said: “Lok’nStore is the latest in a line of London-listed companies to announce it can get better value for its shareholders by way of an acquisition. The fact such a success story is set to fall into the hands of foreign ownership does little to allay fears that the Great Fire Sale of London is anywhere near burning itself out.”
この記事は Evening Standard の April 11, 2024 版に掲載されています。
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この記事は Evening Standard の April 11, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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