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Big Yellow Group PLC - Bagshot, Surrey-based self-storage site operator - Agrees to extend the deadline for funds managed by Blackstone Europe LLP to announce a firm intention to make a takeover offer to December 8 from end-of-day Monday. The later put-up-or-shut-up date pushes the decision after the presentation of the UK government budget on November 26. This is expected to include a variety of tax increases to close the central government deficit. Big Yellow says the private equity investment manager, part of New York-based Blackstone Inc, is only at a ‘preliminary stage’ of evaluating an offer. Among factors it is considering is ‘the macro-economic environment including the potential impact of the upcoming UK budget as it relates to the self-storage sector’, Big Yellow says on Monday repeating comments made when Blackstone first confirmed its interest last month.
Current stock price: 1,122.72 pence, up 0.2% in London on Monday for £2.22 billion market capitalisation
12-month change: down 7.4%
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