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ProLogis European Accepts Offer It Considers Too Low

By Anna Marij van der Meulen Of DOW JONES NEWSWIRES AMSTERDAM -(Dow Jones)- ProLogis European Properties (PEPR.AE) Wednesday said it would accept a takeover bid from U.S. industrial real-estate giant ProLogis (PLD) that values it at just under EUR1.22 billion due to worries about the liquidity of its share, even though it considers the bid too low. Prologis, a Denver-based company, said Friday it had increased its takeover offer for the biggest owner of warehouses in Europe to EUR6.20 per share from a EUR6.10 per share. PEPR in a statement said that it believed the offer undervalued the company, but given that ProLogis owned nearly 60% of its shares, leaving little free float, it said it felt compelled to accept. ProLogis had increased its stake in the company to about 60% from around 39% after Dutch pension-fund asset manager APG Algemene Pensioen Groep NV and an affiliate of the Government of Singapore Investment Corp. agreed to sell their shares. -By Anna Marij van der Meulen; Dow Jones Newswires; +31 20 5715 216; annamarij.vandermeulen@dowjones.com

Stock News for Prologis (PLD)
DateTimeHeadline
04/21/201503:01:37Prologis Stock Rating Reaffirmed by MLV & Co. (PLD)
04/20/201513:32:41Prologis Given New $52.00 Price Target at Barclays (PLD)
04/19/201521:10:07Prologis to Buy KTR for $5.9 Billion
04/19/201517:09:12Prologis to Buy KTR for $5.9 Billion -- 3rd Update
04/19/201516:39:08Prologis to Buy KTR for $5.9 Billion -- 2nd Update
04/19/201516:01:00Prologis Announces First Quarter 2015 Earnings Results and New...
04/19/201516:00:00Prologis Signs Definitive Agreements to Acquire $5.9 Billion...
04/19/201514:11:05Prologis to Buy KTR for $5.9 Billion -- Update
04/17/201509:18:00Prologis Announces Issuance of EUR 300 Million of PEPF II Eurobonds
04/02/201514:11:08Property Investors Flock to Europe's Warehouses
03/30/201516:05:00Prologis to Announce First Quarter 2015 Results April 21
03/23/201506:45:00An Undiscovered Canadian Gem That Pays 6% Monthly
03/16/201516:05:00Prologis Announces Exchange of $460 Million of Convertible Senior...
03/02/201520:46:00Prologis Announces Webcast for 2015 Annual Stockholders Meeting
03/02/201520:44:00Prologis to Participate in Citi's 2015 Global Property CEO Conference
02/25/201516:05:00Prologis Board of Directors Approves 9 Percent Increase in Quarterly...
02/11/201506:05:00Prologis Signs Agreement to Acquire 3.2 Million Square Feet of...
02/06/201516:05:00Prologis Announces Sale of 56 Acres in Silicon Valley
02/05/201516:01:00Prologis Announces Addition of Managers and Renewal of At-The-Market...
01/29/201520:08:00Prologis Announces Tax Treatment of 2014 Distributions

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