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Why Liberty Property Trust Jumped on Monday

TheMotleyFool

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Why Liberty Property Trust Jumped on MondayPhoto, wide shot, wide-angle lens, Heavy machinery, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/c15253b0-7330-4605-a666-66954eaf6715.png

Shares of Liberty Property Trust (NYSE: LPT) climbed nearly 14% on Oct. 28, after the commercial real estate company said it would be acquired.

Prologis, a global leader in logistics real estate, is purchasing Liberty for $12.6 billion, including debt. The all-stock deal will see investors receive 0.675 Prologis shares for each Liberty share they hold. The transaction is expected to close in the first quarter of 2020, pending shareholder and regulatory approval.

Prologis is gobbling up Liberty Property Trust. Image source: Getty Images.

Source Fool.com

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