Published 29 June 2007
Macquarie ProLogis Trust unitholders have approved the $A1.43/unit cash offer from US infrastructure & logistics property company ProLogis, with barely 1% opposed.
Trading in the trust’s units will cease on Monday 2 July and it should be delisted on Monday 16 July.
Macquarie ProLogis was formed in 2002 and built up to total assets of $A2.1 billion, comprising an interest in a portfolio of 138 warehouse & distribution facilities in 32 markets throughout North America managed by ProLogis.
ProLogis made its cash offer to investors in the Australian trust. 18 months after the trust lost its exclusive right to new ProLogis product.
Macquarie ProLogis was one of the first ventures into listing US property for Australian investors. The 2 partners had a 50:50 management company and ProLogis maintained an 11% stake in the trust.
18 April 2007: ProLogis to buy back Macquarie ProLogis
Attribution: Trust release, story written by Bob Dey for this website.