Market Updates
Duke Realty Says $24 Billion Insufficient to Prologis
Bridgette Randall
11 May, 2022
New York City
Duke Realty rejected the latest revised offer from Prologis for $24 billion.
Prologis offered to exchange one Duke Realty share for 0.466 of its share. The latest all-cash offer is higher than 0.465 offered on November 9, 2021.
Duke responded to the public offer and said that the current offer "is insufficient."
Prologis is a leader in managing warehouses and logistics properties and Duke is known for its industrial and medical properties.
Duke Realty stock jumped 7.8% to $53.46 and Prologis stock fell 1.3% to $123.74.
In the last 52-weeks of trading, Prologis has gained 10% and Duke Realty has advanced 20%.
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