U.S. property group ProLogis (PLD.N) kicked off a bidding war on Thursday for the shares it does not already own in ProLogis European Properties (PEPR) (PEPR.AS), topping a bid from APG and Australian property manager Goodman (GMG.AX). ProLogis, which manages the industrial and logistic property of PEPR, said in a statement it offered 6.10 euros per ordinary PEPR share and had recently increased its stake to about 38 percent from 33.1 percent. The offer is valued at 1.16 billion euros, based on 190.5 million ordinary PEPR shares outstanding, according to data on PEPR's Web site. PEPR also has 10.3 million convertible preferred units (PEPR_p.AS) outstanding, the Web site says. PEPR ordinary shares traded up 8.2 percent at 6.22 euros, above the highest offer.
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