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DCT Industrial sets date for shareholder vote on Prologis merger

DCT Industrial Trust Inc. shareholders will vote on a possible $8.4 billion merger deal with fellow industrial real estate investment trust Prologis Inc. at a special meeting to be held Aug. 20.

Under the proposed deal, each DCT share will be exchanged for 1.02 Prologis shares, and DCT President and CEO Philip Hawkins will join the Prologis board after completion of the deal.

DCT's board has recommended that the company's stockholders vote in favor of the proposed deal.