Logistics leader Prologis to acquire DCT Industrial for $8.4 billion
NEW YORK (Reuters) - Prologis Inc, a logistics company with a global footprint, will acquire smaller U.S. rival DCT Industrial Trust Inc in an $8.4 billion (£6.1 billion) all-stock transaction, including the assumption of debt, the two companies said on Sunday.
The acquisition will deepen Prologis' presence in high-growth markets including Southern California, the San Francisco Bay Area, New York and New Jersey, Seattle and South Florida, the companies said in a statement.
The board of directors of both companies unanimously approved the transaction, they said.
(Reporting by Herbert Lash; Editing by Peter Cooney)
