Six-Way Bidding War Will Decide Who Is Mexico's Nearshoring King [BNN Bloomberg (Canada)]
Prologis, Inc. (PLD)
Last prologis, inc. earnings: 4/21 08:00 am
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Source: BNN Bloomberg
In a meeting Tuesday afternoon, TF Administradora Industrial, or Terrafina, will give shareholders details of at least six different takeover bids the company has received. Three of the offers would use share exchanges or a merger to create Mexico's biggest industrial property company. Two offers may be in cash, giving investors a chance to sell their stock around record highs. Industrial real estate has been on a tear in Mexico as more companies seek space to export to the US. Hype around the “nearshoring” trend has sparked an equity issuance revival in the country's stock market. In the coming weeks, Terrafina investors will receive a parade of tender offers to acquire their shares in the open market. If a majority accept a share-based offer, the resulting company will be one of the most liquid ways for investors to play the nearshoring theme in Mexico. Terrafina's stock is up 17% this year after bids started emerging in February, taking its market value to $1.9 billion. Mexico
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