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Duke Realty stock jumps after Prologis buyout bid implies 12% premium and market cap of $21.4 billion

·1 min read
Duke Realty stock jumps after Prologis buyout bid implies 12% premium and market cap of $21.4 billion
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Shares of Duke Realty Corp. jumped 4.5% in premarket trading Monday, after the owner of rentable industrial assets in logistics markets agreed to be acquired by fellow real estate investment trust (REIT) Prologis Inc. in an all-stock deal valued at about $26 billion, including debt. Prologis shares shed 4.1% ahead of the open. Under terms of the deal, Duke Realty shareholders will receive 0.475 Prologis shares for each Duke Realty share they own. Based on Friday's closing prices, that values Duk