AMB Property Corp (AMB.N) has struck a deal to buy rival ProLogis (PLD.N) for $5.7 billion in stock, combining the two largest U.S. owners of warehouse and distribution centers around the world in one of the biggest real-estate transactions since the financial crisis.
The agreement comes as ProLogis, the larger of the two companies, has been struggling with debt. While both companies operate in the United States, the deal will give AMB a large presence in the UK and Eastern Europe.
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