Deals
Duke Realty Rebuffs Prologis’s $24 Billion Bid as ‘Insufficient’
- Warehouse owner says ‘exploring all paths’ to maximize value
- Prologis has made a series of offers for Duke since November
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US warehouse landlord Duke Realty Corp. responded to a $24 billion takeover offer by Prologis Inc., saying the all-stock proposal is “insufficient.”
Prologis went public Tuesday with its bid to acquire Duke in a deal it said valued the company at $61.68 a share, a 29% premium to the company’s closing price on May 9. Duke investors would receive 0.466 shares of Prologis for each Duke share they own.