Extension of PUSU Deadline
Blackstone takeover approach deadline extended to 8 December 2025.
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On 13 October 2025, Blackstone Europe LLP ("Blackstone") announced that one or more of the investment funds advised by Blackstone or any of its affiliates (the "Blackstone Funds") were considering their position in relation to the Company, which could include a cash offer for the entire issued, and to be issued, share capital of the Company (the "Announcement"). Pursuant to the Announcement, Blackstone Funds are required by no later than 5.00 p.m. (London time) on 10 November 2025 (the "PUSU Deadline") either to announce a firm intention to make an offer for Big Yellow in accordance with Rule 2.7 of the Code or to announce that they do not intend to make such an offer, in which case the announcement would be treated as a statement to which Rule 2.8 of the Code applies.
The Announcement also stated that Blackstone Funds' evaluation of Big Yellow was at a preliminary stage and that Blackstone was considering, amongst other factors, the macro-economic environment including the potential impact of the upcoming UK budget as it relates to the self-storage sector.
In light of the above, Blackstone Funds have requested additional time for their evaluation of Big Yellow.
Accordingly, the Board of Big Yellow has requested, and the Panel on Takeovers and Mergers (the "Panel") has consented to, an extension of the PUSU Deadline in accordance with Rule 2.6(c) of the Code. In accordance with Rule 2.6(a) of the Code, Blackstone Funds are required either to announce a firm intention to make an offer for Big Yellow in accordance with Rule 2.7 of the Code or to announce that it does not intent to make an offer, until 5.00 p.m. (London time) on 8 December 2025 (the "Revised PUSU Deadline"). The Revised PUSU Deadline may only be extended with the agreement of Big Yellow and the Panel in accordance with Rule 2.6(c) of the Code.
There can be no certainty that a firm offer will be made for Big Yellow nor as to the terms on which any such firm offer might be made. A further announcement will be made as and when appropriate.
Additional Information
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.