In today’s briefing:
- Abacus Storage King (ASK AU): Ki Corp/Public Storage’s Revised NBIO Faces a Daunting Challenge
- Treasure Chest: CSL Not A One-Trick Pony
- Macquarie Telecom Group Ltd – The Overnight Report: US-EU Talks Calm Nerves
Abacus Storage King (ASK AU): Ki Corp/Public Storage’s Revised NBIO Faces a Daunting Challenge
- Abacus Storage King (ASK AU) disclosed a non-binding proposal from Ki Corporation and Public Storage (PSA US) at A$1.65 per unit, a 14.7% premium to its previously rejected offer.
- The Board will grant six weeks of due diligence. While below NTA (implies P/NTA of 0.95x), the offer is reasonable compared to peer multiples and historical trading ranges.
- The consortium will likely need to switch to a takeover offer as National Storage REIT (NSR AU), which holds effectively a blocking stake, is unlikely to vote in favour.
Treasure Chest: CSL Not A One-Trick Pony
- FNArena’s Treasure Chest reports on money making ideas from stockbrokers and other experts.
- Today’s idea is on CSL
Macquarie Telecom Group Ltd – The Overnight Report: US-EU Talks Calm Nerves
- A global perspective on what happened overnight
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