ProLogis confirms merger talks with AMB Property

By @ibtimes on

U.S. owner of warehouses and distribution centers ProLogis said late on Wednesday it is in merger talks with rival AMB Property Corp .

ProLogis and AMB Property, the two largest publicly traded owners of warehouses, are exploring combining their operations based upon the unaffected trading prices of the two companies' stock prior to media reports of a possible merger, ProLogis said.

ProLogis and AMB intend to make no further comment regarding the merger discussions, the companies said in separate statements.

On Wednesday, Reuters reported that the two companies are exploring options to combine their operations and a deal would come soon.

(Reporting by Sakthi Prasad in Bangalore; Editing by Muralikumar Anantharaman)

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