Global Self Storage: An Unsolicited Takeover Offer Unveils The Company’s Potential

Summary
  • Global Self Storage received an unsolicited takeover offer at $6.15 per share, close to the expected fair price.
  • The board rejected the bid, stating that it significantly undervalued the company and its growth prospects.
  • The valuation framework of the takeover suggests that the offered multiple of 17x AFFO was reasonable and fair.

In July 2023, we covered Global Self Storage (NASDAQ:SELF) stock, assigning a buy rating and a target price of $6.60. Unexpectedly, earlier this year, an unsolicited takeover offer came through at $6.15, very close to our expected fair

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