S&P Announces Changes to US Indices: AMB for PLD in S&P 500, DRC for AMB, HBHC for PACW in MidCap 400, KRA for WTNY in SmallCap 600

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AMB Hot Sheet

Overall Analyst Rating:
NEUTRAL (= Flat)

S&P MidCap 400 constituent AMB Property Corp. (NYSE: AMB) will replace ProLogis (NYSE: PLD) in the S&P 500 index, and Dresser-Rand Group Inc. (NYSE: DRC) will replace AMB Property in the S&P MidCap 400 after the close of trading on Thursday, June 2. AMB Property is acquiring ProLogis in a deal expected to be completed on or about that date pending final approvals. Upon completion of the merger, AMB Property will be renamed ProLogis Inc. and will trade under the ticker symbol PLD.

S&P SmallCap 600 constituent Hancock Holding Co. (NASDAQ: HBHC) will replace PacWest Bancorp (NASDAQ: PACW) in the S&P MidCap 400 index, PacWest Bancorp will replace Hancock Holdings in the S&P SmallCap 600, and Kraton Performance Polymers Inc. (NYSE: KRA) will replace Whitney Holding Corp. (NASDAQ: WTNY) in the S&P SmallCap 600 index, all after the close of trading on Friday, June 3. Hancock Holding is acquiring Whitney Holding in a deal expected to be completed on or about that date pending final approvals. PacWest Bancorp’s market capitalization is below $775 million, making it more representative of the small cap market space.

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