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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
07/22/201409:17:09Prologis Posts Higher Profit, Revenue
04/22/201409:01:11Prologis Profit Slides Sharply on Revenue Decline
01/30/201409:52:36Prologis Swings to Profit on Asset Dispositions
11/15/201309:01:37HBK Investments LP 3Q 13F: Largest Eliminations
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Purchases
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Sales
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Eliminations -2-
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201308:12:57Fidelity Management & Research Co. 3Q 13F: -2-
11/15/201308:12:57Fidelity Management & Research Co. 3Q 13F: Holdings As Of Sep...
11/15/201307:04:38Bridgewater Associates LP 3Q 13F: Largest Sales
11/14/201307:19:20The Vanguard Group 3Q 13F: Holdings As Of Sep 30
11/14/201307:19:20The Vanguard Group 3Q 13F: Holdings As Of Sep 30 -2-
10/23/201309:22:41Prologis 3rd-Quarter Loss Narrows as Rental Revenue Growth Continues
07/24/201308:51:10Prologis's 2nd-Quarter Net Up 19% on Lower Integration Expenses
07/18/201309:22:43U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
06/04/201302:58:23Londonmetric Property Sells 11 Distribution Assets For GBP247.56...
05/23/201313:52:16Fed Comments Take the Wind Out of REITS
05/22/201321:40:37Blackstone, Prologis Acquire Industrial Portfolio

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