ProLogis, AMB Confirm `Potential Merger Of Equals' Talks Underway
January 26 2011 - 11:31PM
Dow Jones News
Warehouse giant AMB Property Corp. (AMB) and Prologis (PLD)
Thursday confirmed the two companies were discussing a "potential
merger of equals".
In separate statements, the companies said the merger under
discussion was an "all-stock at-market transaction based upon the
unaffected trading prices of the two companies' stock prior to
media reports of a possible merger".
"ProLogis and AMB have issued press releases in response to
media reports and intend to make no further comment regarding their
discussions or negotiations unless and until a definitive agreement
is reached or discussions are terminated," the statements said.
Earlier Thursday, The Wall Street Journal reported AMB and
Prologis, which have a combined market capitalization of $13.9
billion, were close to a deal to merge.
Citing people familiar with the matter, the newspaper reported
the combined company would be based in San Francisco and would
initially have two chief executives.
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