America’s biggest public storage company is about to get even bigger

America’s leading public storage provider, Public Storage (NYSE: PSA), has announced plans to acquire one of its main competitors, National Storage Affiliates Trust (NYSE: NSA), further solidifying its position as the dominant storage provider in the country. Here’s what you need to know about the proposed merger, and how the news is affecting the companies’ stock prices. What’s happened? Yesterday, Public Storage announced plans to acquire one of its main competitors, National Storage Affiliates. As of December 31, Public Storage operated 3,533 self-storage facilities across 40 states. As of the same date, National Storage Affiliates Trust operated 1,063 self-storage properties across 37 states and Puerto Rico. As noted by the Associated Press, National Storage Affiliates is currently the fourth-largest storage provider by market cap. After Public Storage’s first-place position, competitors Extra Space Storage and CubeSmart take second and third place. Under the terms of the proposed