Big Yellow Group PLC (LSE:BYG) saw its shares slip 5.3% on Friday after Blackstone Europe confirmed it would not move forward with a takeover bid for the self-storage operator.
The announcement came shortly after Big Yellow stated on Dec. 4 that it had determined there was “no basis to continue discussions” with Blackstone and therefore would not extend the put-up-or-shut-up deadline of Dec. 8, 2025.
In its own regulatory update, Blackstone said it has no intention of making an offer for the company, triggering Rule 2.8 restrictions under the City Code on Takeovers and Mergers. However, the firm noted that it may set aside these restrictions under specific scenarios — including with the consent of Big Yellow’s board, if a third party announces a firm intention to bid, if Big Yellow launches a Rule 9 waiver or reverse takeover, or if the Takeover Panel determines that circumstances have materially changed.
Rothschild & Co is advising Blackstone on the matter.
The end of takeover discussions has weighed on Big Yellow’s shares, removing acquisition-driven speculation that had supported the stock and prompting investors to reassess the company’s outlook as it continues independently.
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