April 29, 2018 / 8:25 PM / a year ago

Logistics leader Prologis to acquire DCT Industrial for $8.4 bln

NEW YORK, April 29 (Reuters) - Prologis Inc , a logistics company with a global footprint, will acquire smaller U.S. rival DCT Industrial Trust Inc in an $8.4 billion all-stock transaction, including the assumption of debt, the two companies said on Sunday.

The acquisition will deepen Prologis’ presence in high-growth markets including Southern California, the San Francisco Bay Area, New York and New Jersey, Seattle and South Florida, the companies said in a statement.

The board of directors of both companies unanimously approved the transaction, they said.

Reporting by Herbert Lash; Editing by Peter Cooney

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