Extra Space Storage and Life Storage stockholders approve proposed merger

Extra Space Storage (EXR) and Life Storage (LSI) announced that Extra Space stockholders and Life Storage stockholders have voted, separately, to approve the proposed merger at their respective special meetings held virtually today, July 18. Upon consummation of the merger, Life Storage stockholders will receive 0.895 of a newly-issued share of Extra Space common stock for each share of Life Storage common stock they own immediately prior to the effective time of the merger. The transaction is expected to close on July 20 subject to the satisfaction or waiver of customary closing conditions.