Scan Global – the joy and pain of private-equity ownership
A junk-ish tinge?
ID 8842866 © Vitaly Titov | Dreamstime.com
The $3.1bn warehousing deal disclosed on Monday, 26 June, in which $111bn-market-cap Prologis (PLD) agreed to take over ownership of nearly 14 million square feet of industrial property from $111bn-market-cap Blackstone was noteworthy.
Even more so, after some digging, was its funding structure as we try to decode either weakness or strength in the space.
(If it weren’t too hazardous by nature, size and scope of business, a merger of equals… ohhhh, just leave it!)
Tranches
The cash transaction, as disclosed via an SEC ...
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