• Articles
  • Articles:
  • View
  • Search
  • List
• Releases
• Calendar
• 

AMB Property Corporation and ProLogis recently announced the completion of their merger, forming a combined company named Prologis, Inc., a leading global owner, operator and developer of industrial real estate. The common stock of the combined company will trade under the symbol PLD on the New York Stock Exchange beginning today.

"This merger brings together two great organizations to form an even stronger global industrial real estate company," said Hamid R. Moghadam, chairman and co-CEO. "We are excited to move forward with a clear strategy to pursue growth opportunities around the world with our high-quality portfolio of logistics properties, proven private capital business, financial strength and our talented team."

"Prologis is poised for a bright future," said Walter C. Rakowich, co-CEO. "With an unmatched global network, an excellent board of directors and a strong management team, we are primed to deliver on the promise of great products and service for our customers, career opportunities for our people and sector-leading returns for our stockholders."

"Today's merger closing is a significant achievement, and I want to thank our colleagues around the world for their incredible efforts to get us to this point," Moghadam said. "The long-term success of any merger depends on the people. I continue to have confidence in the future of this company because we are fortunate to have the best team in the industry."

"We have moved swiftly and deliberately on integration planning, and I am very pleased with our progress," Rakowich said. "While there is still much work to be done to fully implement our plan, we have the people, systems and processes in place to begin executing as a combined company today."

• Currently 5/5

Rating: 5.00 / 5.00  - Awesome!
1 ratings