Australia's Abacus Storage King gets takeover bid, valuing firm at $1.2 billion

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The proposal offers A$1.47 per stapled security to Abacus shareholders for all shares not currently held by Ki and its subsidiaries. The offer represents a 26.7% premium to Abacus' closing share price on Friday. Ki currently has an indirect and direct interest of nearly 60% in Abacus, which owns and operates self-storage facilities across New Zealand and Australia.

The proposal offers A$1.47 per stapled security to Abacus shareholders for all shares not currently held by Ki and its subsidiaries. The offer represents a 26.

7% premium to Abacus' closing share price on Friday. Ki currently has an indirect and direct interest of nearly 60% in Abacus, which owns and operates self-storage facilities across New Zealand and Australia..