Prologis to buy warehouse rival Liberty in $12.6 billion deal

If approved, Liberty shareholders would receive 0.675 times a Prologis share for each unit they hold, Prologis said in a statement. Prologis, which has a global footprint, said the all-stock deal including the assumption of debt would deepen its presence in U.S. markets such as Pennsylvania's Lehigh Valley, Chicago, Houston, New Jersey and Southern California. "Liberty’s logistics assets are highly complementary to our U.S. portfolio and this acquisition increases our holdings and growth potential in several key markets," Prologis Chairman and Chief Executive Officer Hamid Moghadam said.

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