Extra Space working on potential bid for Life Storage, Bloomberg says

Extra Space Storage (EXR) is weighing making an offer for Life Storage (LSI), which ejected a takeover proposal from Public Storage (PSA) earlier this year, Aaron Kirchfeld, Gillian Tan and Matthew Monks of Bloomberg report, citing people familiar with the matter. Extra Space is working with an adviser on a potential bid, sources told Bloomberg. Shares of Life Storage are up 3% to $127.16 following the report while Extra Space is down 3% to $154.02.