Prologis Offers 22.78 Billion for Its Rival Duke Realty

The U.S. Prologis, one of the world's largest commercial and industrial real estate companies, announced yesterday an offer of about 24 billion dollars (22.78 billion euros) to take over its competitor Duke Realty.

The company, based in San Francisco and with a strong presence in Spain in the logistics and industrial warehouses sector, released a letter sent to Duke Realty in which it proposes to take over its business paying a price of 61.68 dollars per share, a premium of 29% over the stock market close on Monday, according to Efe.

The offer comes after Prologis tried to negotiate the acquisition months ago in private, with proposals so far rejected by the board of its competitor, which is based in Indianapolis.

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