The Newsroom

Investigations  /  02.01.2011

Robbins Umeda LLP Is Investigating ProLogis Acquisition for Shareholders

Robbins Umeda LLP, a shareholder rights litigation firm, is investigating possible breaches of fiduciary duty and other violations of state law by members of the board of directors of ProLogis (NYSE: PLD) in connection with their efforts to combine with AMB Property Corporation (NYSE: AMB).  The investigation seeks to determine whether ProLogis’s board of directors undertook a fair process to obtain maximum value for its shareholders.

On January 26, 2011, ProLogis and AMB announced the definitive agreement to combine through a merger of equals.  Under the terms of the current agreement, ProLogis shareholders will receive 0.4464 shares of newly issued AMB common stock.  This amounts to an approximate shareholder value of $14.70 per share of ProLogis, which is 3.35% below the closing price of ProLogis on January 28, 2010.

Recently, Citi raised its price target for ProLogis to $15.50, and FBR Capital Markets raised its price target to $17.50, both significantly higher than the eventual offer price.  After speculation about a potential deal, the stock traded well above the eventual offer price, including at $16.52 on January 27, 2010.  Even before takeover speculation was factored into the price of ProLogis stock, shares traded as high as $14.78, still higher than the price offered for ProLogic shares.

If you own stock in ProLogis and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsarroyo.com.

Shareholder Information







Please Note: Neither the submission to nor the receipt of information by Robbins Arroyo LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.
I have read the disclaimer information.



Please Note: Neither the submission to nor the receipt of information by Robbins Arroyo LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

How can we help you?

CONTACT US TODAY | 1-800-350-6003 or info@robbinsarroyo.com

Tell us your concerns