U.S. warehouse and distribution center owner ProLogis (PLD.N) is substantially larger than rival AMB Property Corp (AMB.N) both in terms of square footage and market value. Yet if the two companies' recently announced talks on a "merger of equals" pan out, AMB Property is likely to be the real buyer and ProLogis the target, investors and Wall Street analysts said. That is because ProLogis, whose massive debt load brought the company to its knees at the end of 2008 and prompted CEO Jeffrey Schwartz to resign, is entering the deal from a position of weakness.
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