National Storage Affiliates Trust voluntarily supplemented its proxy/prospectus disclosures relating to the proposed merger with Public Storage amid shareholder lawsuits and demand letters.
Key Highlights:
- Filed supplemental disclosures to the June 12 Proxy Statement/Prospectus to address claims and provide additional background and analyses.
- Three shareholder lawsuits seek injunctive relief, rescissory damages and additional disclosures; Company says claims lack merit but supplements to avoid delay and expense.
- Supplement adds details on evaluation committee, Morgan Stanley analyses, comparable multiples, precedent transaction premiums and analyst price targets.
- Includes illustrative seven-year Dropdown JV estimates (NOI and unlevered free cash flow) but cautions they are forward-looking and not GAAP-audited.
Original SEC Filing:
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