Prologis to Buy Duke Realty in $26 Billion Deal, Including Debt
June 13 2022 - 8:49AM
Dow Jones News
By Chris Wack
Prologis Inc. is buying Duke Realty Corp. in an all-stock
transaction valued at $26 billion, including the assumption of
debt, the companies said Monday.
The transaction is anticipated to create immediate accretion of
$310 million to $370 million from corporate general and
administrative cost savings and operating leverage as well as
mark-to-market adjustments on leases and debt, Prologis said.
With the transaction, Prologis is gaining high-quality
properties for its portfolio in key geographies, including Southern
California, New Jersey, South Florida, Chicago, Dallas and
Atlanta.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
June 13, 2022 08:34 ET (12:34 GMT)
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