Prologis and AMB Property to merge?
Merger and acquisitions consultants could help bring about a deal that will see distribution facilities provider Prologis combine with AMB Property.
Distribution facilities provider Prologis has announced that it is in talks with AMB Property about a merger of equals.
Merger and acquisition consultants will have been called in to help broker a deal that will see the two firms combine.
The merger would be an all-stock, at-market transaction, although as yet there is no date set for this to occur.
Steven Frankel, an analyst at Green Street Advisors in California, told Bloomberg: "Both of these are global industrial companies and they tend to operate in similar markets … There's a lot of geographic overlap."
Prologis is currently valued at $8.36 billion but it has recorded losses over the last five consecutive quarters.
This comes after it was announced that BSkyB might be entering into sales negotiations in an effort to purchase public Wi-Fi network The Cloud.
It is thought that this could help the company to compete with BT in offering its customers the chance to get online while on the move.