Prologis agrees to $12.6 bln all-stock deal to buy Liberty Property Trust

FILE PHOTO: A general view of the main entrance of Prologis logistics complex which Inc is planning to rent in Cajamar, Brazil February 2, 2018. REUTERS/Gabriela Mello

(Reuters) – Logistics company Prologis Inc (PLD.N) said on Sunday it had agreed to acquire commercial real estate firm Liberty Property Trust (LPT.N) in an all-stock deal valued at about $12.6 billion, including debt, to improve its presence in some U.S. markets.

For each Liberty share, its shareholders will receive 0.675 times of one Prologis share, Prologis said in a statement.

Prologis, which has a global footprint, said the deal would deepen its presence in U.S. markets such as Pennsylvania’s Lehigh Valley, Chicago, Houston, New Jersey and Southern California.

Reporting by Ismail Shakil in Bengaluru; Editing by Peter Cooney


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