SEP. 26 9:04 A.M. ET Public Storage Inc., a real estate investment trust that owns self-storage centers, is asking Shurgard Storage Centers Inc. to reconsider its rejection of the company's $2.49 billion acquisition offer.
Public Storage, which announced its bid for Shurgard last month, said it recently met with a group of Shurgard shareholders who own more than half of the Seattle REIT and who "strongly endorse" a merger of the companies.
"In exercising your fiduciary duties, we are hopeful that you will listen to the appeals of your own shareholders, recognize the value of our proposal and appreciate our willingness to negotiate with you in a flexible and open-minded spirit," Public Storage Chief Executive Ronald Havner Jr. said in a publicly released letter to Shurgard's board. |
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