UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
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PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 8, 2008
PUBLIC STORAGE
(Exact Name of Registrant as Specified in its Charter)
Maryland 001-33519 95-3551121
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification No.)
701 Western Avenue, Glendale, California 91201-2349
(Address of Principal Executive Offices) (Zip Code)
(818) 244-8080
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
|_| Written communication pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencements communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 7.01 REGULATION FD DISCLOSURE
Public Storage has reached an agreement in principle for a prospective
investor to acquire a 51% interest in Shurgard Europe in a private transaction
at a price generally consistent with the previously disclosed proceeds Public
Storage expected to receive for its equity interest in last year's terminated
European share offering. No binding agreement has been signed with the
prospective investor and there is no assurance that a binding agreement will be
signed or that the transaction will be completed. We estimate completion of the
transaction at the end of the first quarter of 2008 assuming a binding agreement
is signed and the conditions related to the transaction are satisfied.
This Form 8-K contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements are subject to a number
of risks and uncertainties, many of which are beyond Public Storage's control,
which could cause actual results to differ materially from those set forth in,
or implied by, such forward-looking statements. All statements other than
statements of historical fact included in this Form 8-K are forward-looking
statements. All forward-looking statements speak only as of January 8, 2008, the
date of this Form 8-K. Public Storage undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise. Risks and uncertainties that could impact these
forward looking statements include, but are not limited to, the risk that the
parties may for any reason be unable to finalize negotiations and completion of
a possible transaction involving Shurgard Europe. There can be no guarantee that
any transaction involving the acquisition by a prospective purchaser of an
interest in Shurgard Europe will occur. Additional information about risks and
uncertainties that could adversely affect Public Storage's forward-looking
statements are described in reports filed by Public Storage with the Securities
and Exchange Commission, including its 2006 Annual Report on Form 10-K and
subsequent reports on Form 10-Q and Form 8-K.
The information in this Form 8-K shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934 (the 'Exchange
Act") or otherwise subject to the liabilities of that section, not shall it be
deemed incorporated by reference in any filing under the Securities Act of 1933
or the Exchange Act, except as expressly set forth by specific reference in such
filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: January 8, 2008
PUBLIC STORAGE
By: /s/ John Reyes
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John Reyes
Senior Vice President &
Chief Financial Officer