PSB - PS Business Parks 'go-shop' period expires without competing offers

The "go-shop" period under PS Business Parks' (NYSE:PSB) agreement to be acquired by Blackstone (NYSE:BX) expired on Wednesday with the REIT receiving no competing offers, it announced on Friday. PS Business Parks' (PSB) board and its advisers actively solicited acquisition proposals from 43 potentially interested third parties. "To date, none of the third parties contacted by PSB or its financial advisors, or any other third parties, have made competing proposals following the execution of the merger agreement," the company said. The $7.6B all-cash transaction with Blackstone (BX) is expected to close in Q3 2022. In April, Blackstone (BX) agreed to buy PSB for $187.50 per share, to add to its significant investments in real estate.

For further details see:

PS Business Parks 'go-shop' period expires without competing offers