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Blackstone Inc is close to withdrawing its interest in Big Yellow Group PLC, as a bid deadline looms, Sky News reported on Tuesday. The Bagshot, Surrey-based self-storage site operator last month agreed to extend the deadline for funds managed by Blackstone Europe LLP to announce a firm intention to make a takeover offer to December 8, which is the start of next week. The later put-up-or-shut-up date pushed the decision beyond the UK government budget announcement, which came on Wednesday last week. Sky News reported that Blackstone is contemplating ending its interest ahead of the deadline. Citing ‘City sources’, Sky News said Blackstone is yet to make a final decision on an offer, though Big Yellow executives are pushing for a bid of at least £14 per share. Big Yellow fell 0.2% to 1,084.00 pence each in London on Monday, giving it a £2.13 billion market capitalisation. A £14 per share offer would be worth £2.75 billion in total. Early on Tuesday, shares were down 1.5% at 1,068.00p. Sky News reported that Blackstone withdrawing its interest is now the ‘likeliest outcome’. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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