ProLogis In Talks With AMB Property (PLD, AMB)

Shares of ProLogis

are up 4% in after hours trading on rumors that the company is in talks to merge with AMB Property Corporation

. At last check, shares of ProLogis were up 57 cents to $15.27, a gain of 3.8%, while shares of AMB Property shares are skyrocketing, gaining $5.24 to $38.10, a gain of nearly 16%.