Rule 2.8 Announcement
Blackstone confirms it will not make an offer for Big Yellow and is subject to Rule 2.8 restrictions.
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On 4 December 2025, Big Yellow announced that it had concluded there was no basis to continue discussions with Blackstone Europe LLP ("Blackstone") and that it intended not to extend the put-up or shut-up deadline of 8 December 2025.
Blackstone confirms that it is not intending to make an offer for Big Yellow. Accordingly, Blackstone and any person acting in concert with it, except with the consent of the Panel on Takeovers and Mergers (the "Panel"), is bound by the restrictions under Rule 2.8 of the Code.
Under Note 2 on Rule 2.8 of the Code, Blackstone, and any person acting in concert with Blackstone, reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:
- with the agreement of the board of Big Yellow;
- if a third party announces a firm intention to make an offer for Big Yellow;
- if Big Yellow announces a Rule 9 waiver (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or
- if there has been a material change of circumstances (as determined by the Panel).
Rule 26.1 disclosure
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.