Prologis Makes USD 61.68 Per Share Bid for Duke Realty.

MANews-(C)2009-2022

US-based logistics real estate company Prologis, Inc. (NYSE: PLD) has sent a letter to James B. Connor, chairman and chief executive officer of Duke Realty Corp. (NYSE: DRE) proposing to acquire Duke Realty in an all-stock transaction, the company said.

Under the terms of the proposal, Duke Realty stockholders would receive 0.466 shares of Prologis common stock for each share of Duke Realty common stock they own.

Prologis' proposal is valued at USD 61.68 per Duke Realty share, based on Prologis' closing price on May 9, 2022, and represents a premium of 29% to Duke Realty's closing price on the same date.

Following personal dialogue between the executive teams, Prologis first sent a letter to Duke Realty on November 29, 2021 regarding a potential transaction at an exchange ratio of 0.465, representing a 20% premium to Duke Realty's stock price at the...

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