Prologis Inc. agreed to buy logistics-property owner DCT Industrial Trust Inc. for $8.4 billion including debt, as a surge in e-commerce ramps up demand for warehouses and distribution centers.
DCT shareholders will receive 1.02 Prologis shares for each share, valuing the deal at $67.91 per DCT share, the companies said Sunday, confirming an earlier report by The Wall Street Journal. That amounts to a roughly 16% premium over DCT’s closing share price Friday.
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