NEW YORK CITY--They're dubbing it a "merger of equals," but saying little else. Denver-based ProLogis and AMB Property Corp., HQ'd in San Francisco, have confirmed in statements that they are in discussions to merge. According to statements posted on both corporate websites, the talks are aiming toward "all-stock, at-market transaction, based upon the unaffected trading prices of the two companies' stock prior to media reports of a possible merger."
Beyond that, however, neither company will be sharing news until a merger is done or falls through. In their statements, both firms make it clear that, "no further comment regarding their discussions or negotiations unless and until a definitive agreement is reached or discussions are terminated."
If the talks success the resultant company would be sitting on a portfolio of nearly 600 million square feet of international industrial space. The combined market cap of the two firms, according to the Wall Street Journal, is $13.9 billion.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
