Blackstone Walks Away From Potential Bid for Big Yellow (1)

Blackstone Inc has abandoned its potential bid for Big Yellow Group Plc about two months after announcing its interest in the UK self-storage landlord.

The alternative asset manager said in a statement Friday that doesn’t intend to make an offer after the British firm the previous day said “it had concluded there was no basis to continue discussions” over a possible deal “in the context of Big Yellow’s strong performance.”

Shares of Big Yellow dropped as much as 5.6% in early London trading on Friday, further paring the gains it notched this year. They had tumbled 9.8% on Dec. 1 ...