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Public Storage Completes $1.2 Billion Acquisition of Public Storage Canada

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Public Storage (PSA) said Tuesday it completed its acquisition of Public Storage Canada for about $1.2 billion.

The consideration included about $900 million in Public Storage operating partnership units and about $310 million in cash, subject to customary adjustments, the company said.

The sellers may also receive up to $288 million in additional operating partnership units, priced at $375 per unit, if certain net operating income performance targets are met, the company said.

Public Storage said the acquisition is expected to be accretive to long-term internal rate of return, net operating income growth and funds from operations per share.

Price: $306.36, Change: $-0.63, Percent Change: -0.21%

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