Big Yellow says Blackstone considering bid, shares spark

(Sharecast News) - Big Yellow Group surged on Monday as it confirmed that private equity firm Blackstone is considering a possible offer for the self-storage company. In a brief statement in response to recent press speculation, Big Yellow said that one or more of the investment funds advised by Blackstone is considering an offer.

"Blackstone Funds' evaluation of Big Yellow is at a preliminary stage and Blackstone is 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," it said.

There can no certainty that any offer for will be made nor as to the terms of any such offer, it said, adding that a further announcement will be made as appropriate.

Under UK takeover rules, Blackstone has until 10 November to either make a firm offer or walk away.

At 0910 BST, Big Yellow shares were up 19.8% at 1,156.00p.