Public Storage has suspended its plans for a $1.9bn takeover of the National Storage REIT.
The US-based rival had offered $2.40 a share for the Australian company that was halted from trade on Wednesday.
Its market value is currently $1.43bn.
It comes after the group came close to finalising due diligence on the target.
However, the Public Storage board is understood to have made the call to suspend the takeover plans.
Public Storage is an international self-storage company based in California.
It is the largest brand of self-storage services in the US.
The business, advised by Morgan Stanley, has more than $US10bn of assets under management and is listed on the NYSE.
Working with National Storage REIT had been JPMorgan.
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