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From the Blogosphere
Notable Mergers and Acquisitions of the Day 12/23: PLD, HLIT/SCOP, VOLC
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<> <>ProLogis (NYSE: PLD) announced the signing of a binding agreement to sell its operations in China and property fund interests in Japan, to affiliates of GIC Real Estate, the real estate investment company of the Government of Singapore Investment Corporation, for total cash consideration of $1.3 billion, plus liabilities assumed as part of the transaction. The net proceeds will be used to reduce debt. Overall, the company expects to record a modest net loss on the transaction of approximately 4 to 6 percent of the book value of the assets sold. ProLogis' development pipeline as of Septembe...
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Morning Movers 12/23: ProLogis (PLD) Higher On Sale News, Old Dominion Freight (ODFL) Down On Guidance
<>StreetInsider.com Morning Movers:
ProLogis (NYSE: PLD) 20% HIGHER; announced the signing of a binding agreement to sell its operations in China and property fund interests in Japan, to affiliates of GIC Real Estate (GIC RE), the real estate investment company of the Government of Singapore Investment Corporation, for total cash consideration of $1.3 billion, plus liabilities assumed as part of the transaction. The net proceeds will be used to reduce debt. Overall, the company expects to record a modest net loss on the transaction of approximately 4 to 6 percent of the book value of the asset...
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Unusual 11 Mid-Day Movers 12/12: GGP, PLD, EXEL, MAC Higher; LAD, HWD, AXL, PKI Lower
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General Growth Properties, Inc. (NYSE: GGP) 30.6% HIGHER; announced the completion of approximately $896 million of mortgage loans. The maturity dates of these mortgage loans range from five to seven years. The proceeds were fully used to retire a $58 million bond issued by The Rouse Company LP maturing December 11, 2008, as well as to refinance approximately $814 million of mortgage indebtedness scheduled to mature in 2009.Lithia Motors (NYSE: LAD) 28.3% LOWER; anything related to the automakers are sinking today as Congress denied the Big 3 the $14 billion bridge loan they were looking fo...
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What's this? Prologis (PLD) is too good to pass up.
I recently learned of Prologis (PLD), a real estate investment comprised of industrial distribution properties it owns, operates, and develops. It paid a respectable dividend when it was trading around $40 per share. At prices below $6 it pays an insane dividend, even after the announcement to cut it in half. When the price was slashed in early morning trading today, I could not resist scraping some common off the trading floor. Count me in at $4 and change. Hang on and ride the crazy stallion!
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What's this? Prologis (PLD) is too good to pass up.
I recently learned of Prologis (PLD), a real estate investment comprised of industrial distribution properties it owns, operates, and develops. It paid a respectable dividend when it was trading around $40 per share. At prices below $6 it pays an insane dividend, even after the announcement to cut it in half. When the price was slashed in early morning trading today, I could not resist scraping some common off the trading floor. Count me in at $4 and change. Hang on and ride the crazy stallion!
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