Market Overview

ProLogis Shares Spiking over 100% on the Session after Merger Closure

AMB Property Corporation (NYSE: AMB) and ProLogis (NYSE: PLD) today announced the completion of their merger, forming a combined company named Prologis, Inc., a leading global owner, operator and developer of industrial real estate. The common stock of the combined company will trade under the symbol PLD on the New York Stock Exchange beginning today.

“This merger brings together two great organizations to form an even stronger global industrial real estate company,” said Hamid R. Moghadam, chairman and co-CEO. “We are excited to move forward with a clear strategy to pursue growth opportunities around the world with our high-quality portfolio of logistics properties, proven private capital business, financial strength and our talented team.”

“Prologis is poised for a bright future,” said Walter C. Rakowich, co-CEO. “With an unmatched global network, an excellent board of directors and a strong management team, we are primed to deliver on the promise of great products and service for our customers, career opportunities for our people and sector-leading returns for our stockholders.”

Posted-In: News M&A Movers

 

Related Articles (AMB + PLD)

Around the Web, We're Loving...

Get Benzinga's Newsletters