Market Overview

ProLogis Shareholders Approve Merger of Equals With AMB Property Corporation

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ProLogis (NYSE: PLD) announced today that its shareholders have approved its proposed merger of equals with AMB Property Corporation (NYSE: AMB). More than 498 million, or 87.4 percent, of ProLogis' outstanding shares were voted, with approximately 99.6 percent of those voted in favor of the merger proposal. Subject to approval by AMB's shareholders and satisfaction or waiver of the conditions to closing, the merger is expected to close on Friday, June 3.

Each ProLogis common share will be exchanged into 0.4464 of a newly issued common share of AMB. ProLogis shares are expected to be delisted after the close of trading on June 2 and shares of AMB will continue trading on the NYSE but under the symbol PLD.

Posted-In: M&A News

 

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