Prologis to Buy DCT Industrial Trust for $8.4 Billion

Prologis to Buy DCT Industrial Trust for $8.4 Billion

Prologis Inc. agreed to purchase logistics-property proprietor DCT Industrial Trust Inc. for $eight.four billion together with debt, as a surge in e-commerce ramps up demand for warehouses and distribution facilities.

DCT shareholders will obtain 1.02 Prologis shares for every share, valuing the deal at $67.91 per DCT share, the businesses stated Sunday, confirming an earlier report by The Wall Street Journal. That quantities to a roughly 16% premium over DCT’s closing share value Friday.

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