Jan. 27 2011 07:17 PM

Journal of Commerce--ProLogis and AMB Property say they are negotiating a potential blockbuster merger that would combine two of the world's largest managers of distribution facilities.

The companies disclosed the merger talks late Wednesday, saying their goal is a "merger of equals" and would involve a simple all-stock transaction based on their respective share prices before the announcement. Shares in both publicly traded industrial real estate operators surged in trading Thursday on the news.

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