Blackstone has been granted an extension to its deadline to either make a formal takeover offer for Big Yellow Group or walk away from a potential deal.
The self-storage provider said Monday that the new deadline is now 5 p.m. on Dec. 8, pushed back from the original date of Nov. 10.
The extension was requested by Blackstone to allow for more time to evaluate a potential bid, according to a regulatory filing.
Blackstone is considering the macro-economic environment, including the potential impact of the upcoming UK budget on the self-storage sector, Big Yellow said.
The private equity firm first announced on Oct. 13 that it was considering a possible cash offer for the UK's largest self-storage company.
The takeover interest comes as Big Yellow navigates a slowdown in occupancy growth, which the company has previously attributed to macroeconomic uncertainty.
Big Yellow's board requested the extension from the UK's Panel on Takeovers and Mergers, which consented to the new deadline.
The company noted that there can be no certainty a firm offer will be made.
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