The Globe and Mail reports in its Tuesday, Dec. 9, edition that Australia's National Storage REIT announced a $4-billion (Australian) ($2.65-billion (U.S.)) takeover offer from a consortium backed by Brookfield Asset Management and Singapore's GIC. A Reuters dispatch to The Globe reports that the offer, providing NSR shareholders with $2.86 (Australian) per share -- a 26.5-per-cent premium to its Nov. 25 closing price -- follows a non-binding proposal disclosed in November. The bidders have completed due diligence and signed a binding deed. The deal drove NSR's shares to an all-time high of $2.81 (Australian) on Monday, making it one of the top performers on the ASX 200 Benchmark Index, which slipped 0.3 per cent. "The bid price remains light relative to the plus-18-per-cent historic average control premium paid for AREIT transactions from 2015 to 2025 but ultimately passes the 'sniff test' given transaction scale, prior relationship with bidder and prospect of limited competitive tension," said MST Financial's John Lockton. The buyout also marks the biggest take-private deal of an Australian real estate firm, topping Brookfield's $1.27-billion (Australian)purchase of Aveo Group in 2019.