Life Storage ( NYSE: LSI ) has canceled from an appearance at Citi's annual property CEO conference next week.
Life Storage ( LSI ) will not be attending the Citi Global Property CEO Conference in Hollywood, Florida next week, the company confirmed on Friday, though declined to provide any more details.
The cancellation comes after Life Storage ( LSI ) last month r ejected an ~$11 billion unsolicited bid from Public Storage ( NYSE: PSA ), saying the offer "significantly undervalues" the company as well as its prospects for future growth.
A Citi analyst last month said Public Storage Inc. ( PSA ) has room to raise its offer for smaller self-storage competitor Life Storage ( LSI ) rejected it. A Truist analys also said that there's a "strong probability" that Public Storage could "slightly" increase its offer for Life Storage.
Life Storage ( LSI ) rose 2.3% on Friday, while Public Storage ( PSA ) gained 1.4%.
Public Storage ( PSA ) disclosed early last month that it made an unsolicited offer to buy rival Life Storage ( LSI ) for $11 billion in an all stock deal.
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Life Storage cancels from Citi property conference next week