A contest for ProLogis European Properties (PEPR) (PEPR.AS) ended on Friday when a Dutch pension manager said it would sell its stake in the company after a revised offer from its one-time parent, ProLogis (PLD.N). Pension group APG said it would drop its joint bid with Australian property manager Goodman (GMG.AX) for PEPR and sell all its ordinary and convertible preferred units of PEPR to ProLogis for its new offer price of 6.20 euros per unit in cash. An affiliate of the Government of Singapore Investment Corporation has also agreed to sell its PEPR units following the new offer, ProLogis said, bringing its stake in the owner of European warehouse and distribution centers to about 60 percent. "At the increased price, two of PEPR's significant investors today have chosen to sell their units," said Prologis Chief Executive Walter C. Rakowich in a statement.
ProLogis is a global provider of industrial distribution facilities. Shares of PLD fell by 1.31% or $-0.21/share to $15.85. In the past year, the shares have traded as low as $9.15 and as high as $16.70. On average, 5540940 shares of PLD exchange hands on a given day and today's volume is recorded at 5740972.
Source
