Abacus takeover bid for U Stow It

ABACUS has bought more than 50% of the shares in U Stow It Holdings Limited under an off-market takeover bid.

The bid, which is now unconditional, has been recommended by U Stow It’s directors.

U Stow It is an unlisted company that owns and operates a number of self-storage assets and other properties in Canberra and Queanbeyan.

The offer period for the takeover bid has been extended until November 22 2007.

At the date of the extension, the percentage of securities in the bid class in which Abacus and its associates had a relevant interest is 51.54%.

Australian Property Journal