DENVER, June 1, 2011 /PRNewswire/ -- ProLogis (NYSE:
PLD), the leading global provider of distribution facilities,
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.
The combined company will be the leader in the industrial sector
with over 600 million square feet of modern distribution facilities
owned and managed in 22 countries. The company is expected to have
a pro forma equity market cap of approximately $15.7 billion.
ProLogis expects to declare its second quarter dividend on its
preferred issues on June 3, 2011, in
coordination with the close of the merger.
About ProLogis
ProLogis is the leading global provider of distribution
facilities, with more than 435 million square feet of industrial
space owned and managed (40 million square meters) in markets
across North America, Europe and Asia. The company leases its industrial
facilities to more than 3,800 customers, including manufacturers,
retailers, transportation companies, third-party logistics
providers and other enterprises with large-scale distribution
needs. For additional information about the company, go to
www.prologis.com.
Follow ProLogis on Twitter: http://twitter.com/ProLogis
SOURCE ProLogis