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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
07/28/201520:40:25Global Logistic Properties to Buy 200 U.S. Warehouses for $4.6...
07/23/201509:00:00Technical Summary on REIT - Industrial Equities -- Prologis...
07/21/201509:04:07Prologis Profit Grows, Helped by Higher Rents
07/21/201508:00:00Prologis Reports Second Quarter 2015 Earnings Results and Announces...
07/01/201516:34:00Prologis to Announce Second Quarter 2015 Results July 21
06/10/201520:16:24Builders Debate Merits of Raising Ceilings for Warehouses
06/08/201516:04:00Prologis to Participate in REITWeek 2015: NAREIT's Investor Forum
06/01/201509:00:00Prologis Completes $5.9 Billion KTR Acquisition
05/21/201509:00:00Prologis, L.P. to Establish ¥55 Billion Unsecured Senior Term...
05/20/201512:15:10What Is the S&P 500 Index?
05/14/201509:00:00Prologis, L.P. to Establish $1.0 Billion Unsecured Senior Term...
05/13/201509:00:00Prologis, L.P. Announces the Closing of €700 Million of Guaranteed N...
05/12/201517:14:39Raising the Roof Making All the Difference in Warehouses
05/06/201513:47:00Prologis, L.P. Prices €700 million of Guaranteed Notes due 2...
04/29/201516:55:00Prologis Declares Quarterly Dividends and Announces Results from...
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

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