October 27, 2019 / 11:04 PM / 19 days ago

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

Oct 27 (Reuters) - Logistics company Prologis Inc said on Sunday it had agreed to acquire commercial real estate firm Liberty Property Trust 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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