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Stockwinners Market Radar for February 05, 2023 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
| LSI PSA | Hot Stocks20:48 EST Life Storage says board will review 'unsolicited' Public Storage proposal - Life Storage (LSI) confirmed that it received an "unsolicited taxable all-stock proposal" from Public Storage (PSA) to acquire all of the outstanding shares of Life Storage for 0.4192 shares of Public Storage common stock for each outstanding Life Storage share. The company noted that the proposal received today "appears to be substantially similar in all material respects to a privately submitted proposal previously reviewed by the Life Storage Board of Directors." It added, "Notwithstanding, the Board, in consultation with its financial and legal advisors, will carefully review the proposal and determine the course of action that it believes is in the best interests of all shareholders." Life Storage says shareholders are advised to take no action at this time. Wells Fargo Securities is acting as financial advisor to Life Storage.
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| PSA... | Hot Stocks20:03 EST Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Public Storage (PSA) sent a letter to Mark G. Barberio, Life Storage's (LSI) Chairman, and Joseph V. Saffire, Life Storage's CEO, with respect to its proposal to acquire all of the outstanding shares and units of Life Storage in an all-stock transaction. Under the terms of the proposal letter, holders of Life Storage shares and units would receive 0.4192 shares of Public Storage common stock for each Life Storage share or unit they own, which represents a 19% premium based on the 20-day trailing VWAPs of Public Storage and Life Storage as of February 3, 2023. The proposed transaction would be structured to be taxable to Life Storage equityholders, which would give the combined company a step-up in the tax basis of the acquired assets, providing an enhanced ability to retain free cash flow and fund future accretive growth. Public Storage's Board of Trustees has unanimously approved the proposal. 2. Danaher (DHR) has expressed takeover interest in contract manufacturer Catalent (CTLT) and overtures made in recent months valued Catalent at "a significant premium," people familiar with the matter told Bloomberg's Liana Baker, Michelle Davis and Ed Hammond. Sources said it is unclear how Catalent will proceed or whether it's receptive to an offer, adding that a deal is not imminent, according to the report. 3. Tesla (TSLA) stock is on a tear, leaving investors breathless and wondering what to do next, Al Root writes in this week's edition of Barron's. They might want to follow the adage that no one ever went broke taking a profit, the author argues. 4. Comcast (CMCSA) subsidiary Universal's "Knock at the Cabin" won this weekend at the North American box office with a $14.2M debut. The psychological-tinged horror pic received a C CinemaScore and had the lowest North American opening of any movie by M. Night Shyamalan. Overseas, "Knock at the Cabin" grossed an estimated $7M for a global total of $21.2M. 5. Pfizer (PFE), Ulta Beauty (ULTA), Linden (LIN), AvalonBay (AVB), Essex Property Trust (ESS), Camden Property Trust (CPT), Equity Residential (EQR), and Invitation Homes (INVH) saw a positive mention in this week's edition of Barron's.
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| PSA | Hot Stocks18:19 EST Public Storage increases quarterly common dividend by 50% - Public Storage announced that its Board of Trustees declared a 50% increase in the company's regular common quarterly dividend from $2.00 to $3.00 per share. The distribution equates to an annualized increase to the company's regular common dividend from $8.00 to $12.00 per share. The Board also declared dividends with respect to the company's various series of preferred shares. All the dividends are payable on March 30, 2023 to shareholders of record as of March 15, 2023.
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| PSA LSI | Hot Stocks18:18 EST Public Storage proposes to acquire Life Storage in all-stock transaction - PSA, LSI Public Storage (PSA) sent a letter to Mark G. Barberio, Life Storage's (LSI) Chairman, and Joseph V. Saffire, Life Storage's CEO, with respect to its proposal to acquire all of the outstanding shares and units of Life Storage in an all-stock transaction. Under the terms of the proposal letter, holders of Life Storage shares and units would receive 0.4192 shares of Public Storage common stock for each Life Storage share or unit they own, which represents a 19% premium based on the 20-day trailing VWAPs of Public Storage and Life Storage as of February 3, 2023. The proposed transaction would be structured to be taxable to Life Storage equityholders, which would give the combined company a step-up in the tax basis of the acquired assets, providing an enhanced ability to retain free cash flow and fund future accretive growth. Public Storage's Board of Trustees has unanimously approved the proposal. As detailed in Public Storage's January 12, 2023 letter, Public Storage believes a combination of the two companies will result in immediate benefits to Life Storage shareholders, and will unlock superior near-, medium- and long-term growth and value creation opportunities. Public Storage also today announced that its Board of Trustees has increased Public Storage's regular common quarterly dividend by 50%, from $2.00 to $3.00 per share.
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| LSI PSA | Hot Stocks18:17 EST Public Storage proposes to acquire Life Storage in all-stock transaction - Public Storage (PSA) sent a letter to Mark G. Barberio, Life Storage's (LSI) Chairman, and Joseph V. Saffire, Life Storage's CEO, with respect to its proposal to acquire all of the outstanding shares and units of Life Storage in an all-stock transaction. Under the terms of the proposal letter, holders of Life Storage shares and units would receive 0.4192 shares of Public Storage common stock for each Life Storage share or unit they own, which represents a 19% premium based on the 20-day trailing VWAPs of Public Storage and Life Storage as of February 3, 2023. The proposed transaction would be structured to be taxable to Life Storage equityholders, which would give the combined company a step-up in the tax basis of the acquired assets, providing an enhanced ability to retain free cash flow and fund future accretive growth. Public Storage's Board of Trustees has unanimously approved the proposal. As detailed in Public Storage's January 12, 2023 letter, Public Storage believes a combination of the two companies will result in immediate benefits to Life Storage shareholders, and will unlock superior near-, medium- and long-term growth and value creation opportunities. Public Storage also today announced that its Board of Trustees has increased Public Storage's regular common quarterly dividend by 50%, from $2.00 to $3.00 per share.
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| TS | Hot Stocks15:28 EST Benteler terminates previously-announced sale to Tenaris of steel pipe business - Tenaris announced that Benteler North America Corporation has exercised its right to unilaterally terminate, effective immediately, the previously-announced agreement for the sale to Tenaris of 100% of the shares of U.S. steel pipe producer Benteler Steel & Tube Manufacturing Corporation.
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