After Public Storage (PSA) publicly announced its intentions to acquire Life Storage (LSI) following multiple attempts behind the scenes, Jefferies analyst Jonathan Peterson said the firm’s merger model suggests about 20c of FFO accretion for Public Storage on the suggested terms. However, given the latter’s resistance, it "may require a higher bid to close the deal," the firm said. Jefferies has a Buy rating on Public Storage shares and a Hold rating on Life Storage.
Published first on TheFly
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