Under the terms of the agreement, shareholders will receive three newly issued WDP shares for every single Argan share held. To sweeten the deal, Argan intends to issue an exceptional payout of €11 per share before the transaction closes. This distribution brings the total implied valuation to €79.22 per share, representing a 21% premium over Argan's closing price of €65.40 on Thursday.

This merger signals a significant shift in the European property landscape, combining two major players to leverage economies of scale in the logistics sector. By aligning their portfolios, the entities aim to solidify their footprint across key European markets, creating a unified company with the capital strength to pursue larger infrastructure projects.