Prologis to buy Liberty Property Trust at $12.6 bn deal

Prologis to buy Liberty Property Trust at $12.6 bn deal

Representative image. (Photo/Pixabay)

Logistics company Prologis Inc said on Sunday it had agreed to acquire commercial real estate firm Liberty Property Trust in an all-stock deal valued at about $12.6 billion, including debt, to improve its presence in some US markets.

For each Liberty share, its shareholders will receive 0.675 times of one Prologis share, Prologis said in a statement.

Prologis, which has a global footprint, said the deal would deepen its presence in U.S. markets such as Pennsylvania's Lehigh Valley, Chicago, Houston, New Jersey and Southern California.