Prologis Dct Merger Agreement
On June 9, 2020, Prologis and DCT Industrial Trust announced a definitive merger agreement that would create the largest industrial real estate company in the United States. The merger was completed in August 2018, after receiving approval from DCT shareholders and regulatory authorities.
Prologis, a global leader in logistics real estate, completed the acquisition of DCT Industrial Trust, Inc., one of the leading players in the development, ownership, and management of logistics properties in the U.S. The merger creates a platform with a 71 million square foot operating portfolio with an additional 7 million square feet in the development pipeline and land holdings that could support another 9 million square feet.
Prologis` head of global customer development, Mike Curless, said that the merger “allows us to further expand on our customer-focused strategy, enabling us to deliver long-term value to our customers and shareholders.”
The merger is expected to generate significant operational and financial benefits for both companies. By combining their resources, Prologis and DCT will be able to improve their supply chain capabilities, enhance customer service, and reduce costs. The increased scale and geographic reach of the combined company will also enable it to better serve e-commerce, retail, and logistics customers.
In addition, the merger will create a more diverse customer base for the new company, with increased exposure to industries such as consumer products, food and beverage, and health care. This will help to reduce the risk associated with any one particular industry, making the combined company more stable and resilient in the long term.
Prologis and DCT have a long history of working together, with Prologis having developed and managed facilities for DCT before the merger. The combination of the two companies is a natural fit, as they share a similar culture and values, and are both committed to delivering high-quality logistics real estate solutions to their customers.
The merger is also expected to have a positive impact on the broader economy. The logistics real estate industry is a major driver of job creation and economic growth, and the combined company will be well positioned to continue this trend.
In conclusion, the merger between Prologis and DCT Industrial Trust is an exciting development for the logistics real estate industry. The combined company brings together two of the industry`s leading players, creating a platform with unparalleled scale and resources. The merger will generate significant operational and financial benefits, and will help to drive job creation and economic growth. Overall, this is a positive development for customers, shareholders, and the broader economy.
