Abacus Storage King (ASX:ASK) received a non-binding takeover offer from Ki and $Public Storage(PSA-N)$ to acquire all of the company's outstanding stapled securities for AU$1.47 per security, via a scheme of arrangement, according to a Monday filing with the Australian bourse.
The proposal is subject to conditions, including satisfactory due diligence, regulatory approvals, and a private binding tax ruling from the Australian Tax Office, the filing said.
If the deal goes through, Public Storage would hold around a 50% stake of ASK, with Ki retaining the balance, the filing added.
ASK has formed an independent committee to assess the offer and advised shareholders not to take any action at this stage, the company said.
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