Public Storage Completes Mergers of Property Series Partnerships

Public Storage PSA announced today the closing of the mergers to acquire the limited and general partnership interests which the company did not already own in five affiliated partnerships. The aggregate value of the merger transactions totaled $154.3 million of which $98.2 was elected in cash and $56.1 million in Public Storage common shares, based on a 20-day average closing price of $117.15 per share.