AMB Property Corp (AMB.N) has struck a deal to acquire rival ProLogis (PLD.N) in one of the biggest real-estate deals since the financial crisis, creating the largest U.S. owner of warehouse and distribution centers. The deal comes as ProLogis, the larger of the two companies, has been struggling with a mountain of debt. The new company initially will be run jointly by both current chief executives, but AMB CEO Hamid Moghadam will become sole CEO at the end of 2012. The combined company was expected to have a stock market value of about $14 billion, AMB and ProLogis said in a statement on Monday.
Source
