SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 16, 1996
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Public Storage Properties X, Inc.
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(Exact name of registrant as specified in its charter)
California 1-10708 95-4300880
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(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification No.)
701 Western Avenue, Suite 200, Glendale, California 91203-1241
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (818) 244-8080
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N/A
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(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets.
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On September 16, 1996, Registrant was merged into Public Storage,
Inc. ("PSI") pursuant to an Agreement and Plan of Reorganization dated
as of June 20, 1996. In the merger, the Registrant's outstanding Common
Stock Series A (2,157,484 shares) was converted as follows: 452,094
shares of the Registrant's Common Stock Series A owned by PSI were
cancelled, and the balance of the Registrant's Common Stock Series A
(1,705,390 shares) was converted into an aggregate of approximately (i)
1,204,000 shares of PSI common stock (at the rate of 0.944 shares of PSI
common stock for each share of the Registrant's Common Stock Series A)
and (ii) $8,806,507 in cash (at the rate of $20.41 per share of the
Registrant's Common Stock Series A). The amounts set forth above
exclude, in each case, a liquidating cash distribution of $.71 per share
of the Registrant's Common Stock Series A.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements.
None.
(b) Exhibits.
(1) Agreement and Plan of Reorganization between
PSI and Registrant dated as of June 20, 1996.
Filed with PSI's registration statement on Form
S-4 (File No. 333-08671) and incorporated
herein by reference.
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.
PUBLIC STORAGE PROPERTIES X, INC.
By: /S/ DAVID GOLDBERG
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David Goldberg
Vice President and
General Counsel
Date: September 16, 1996
