Logistics leader Prologis to acquire DCT Industrial for $8.4 billion

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NEW YORK (Reuters) – Prologis Inc (PLD.N) (PLD.N), a logistics company with a global footprint, will acquire smaller U.S. rival DCT Industrial Trust Inc (DCT.N) in an $8.4 billion all-stock transaction, including the assumption of debt, the two companies said on Sunday.

FILE PHOTO: A general view of the main entrance of Prologis logistics complex which Amazon.com Inc is planning to rent in Cajamar, Brazil February 2, 2018. REUTERS/Gabriela Mello

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

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