ProLogis - the global provider of cargo distribution facilities - is one step closer to merging with AMB Property Corporation to create one of the biggest cargo warehouse companies in the world.

In an almost unanimous decision, 99.6% of ProLogis shareholders who voted agreed to the merger.

The proposal is now subject to approval by AMB's shareholders and, if all goes well, the deal is expected to close on Friday 3 June.

Following the merger each ProLogis common share will be exchanged into 0.4464 of a newly issued common share of AMB.

ProLogis shares will be delisted after close of trading on Thursday 2 June and shares of AMB will continue trading on the New York Stock Exchange (NYSE) under the symbol PLD.

If the merger is successful, then the combined company will be the leader in the industrial sector with more than 600 million sqft of modern distribution facilities owned and managed in 22 different countries.

ProLogis alone has more than 435million sqft of industrial space in markets across North America, Europe and Asia.

The company leases its industrial facilities to more than 3,800 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs.

AMB Property is an owner, operator and developer of industrial real estate with a focus on the world's busiest distribution markets in the Americas, Europe and Asia.