BIG YELLOW GROUP

Big Yellow Group on Monday reported a 9% rise in first-half adjusted profit, presenting a mixed picture of rising rents and falling occupancy for private equity firm Blackstone as it weighs a potential takeover bid.

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.

Big Yellow Group on Friday confirmed its total shares in issue, a formal step required under UK takeover rules after the company became the subject of bid speculation.

Private equity firm Blackstone is considering a potential cash offer for Big Yellow Group, the UK's largest self-storage provider, the company said on Monday.

Big Yellow Group said it will acquire a property in East London for 10.8 million British Pounds, pushing ahead with expansion plans despite a recent slowdown in occupancy growth.

Big Yellow Group reported a sharp slowdown in occupancy growth for its first quarter, relying on higher rental rates to lift revenue.