Real estate investment trust Prologis, Inc. (NYSE: PLD) and real estate firm Duke Realty Corp. (NYSE: DRE) have signed a merger agreement under which the former will acquire the latter for around $26 billion, including debt. The deal comprises 1,228 acres of land, 11 million square feet of property under development and 153 million square feet of operating properties at 19 locations in the U.S. Following the completion of the transaction, which is expected in the fourth quarter of 2022, Prologis plans to exit one of Duke Realty’s markets and hold nearly 94% of its assets.
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