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PRESS RELEASE – Prologis to Acquire Liberty Property Trust for $12.6 billion
10/27/2019
One of the highest-quality U.S. logistics REITs will merge into the Prologis platform
SAN FRANCISCO and WAYNE, Pa., Oct. 27, 2019 /PRNewswire/ — Prologis, Inc. (NYSE: PLD) and Liberty Property Trust (NYSE: LPT) today announced that the two companies have entered into a definitive merger agreement by which Prologis will acquire Liberty in an all-stock transaction, valued at approximately $12.6 billion, including the assumption of debt. The board of directors of Prologis and the board of trustees of Liberty have each unanimously approved the transaction.
“Liberty’s logistics assets are highly complementary to our U.S. portfolio and this acquisition increases our holdings and growth potential in several key markets,” said Prologis chairman and CEO Hamid R. Moghadam. “The strategic fit between the portfolios allows us to capture immediate cost and long-term revenue synergies.”
To read the full release, please click here.
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