(Reuters) -Prologis Inc, a warehouse real estate company, said on Tuesday it had offered to buy Duke Realty Corp in an all-stock deal valuing its smaller peer at $23.7 billion.
Prologis said it was reiterating its offer after Duke rejected a proposal, made in private, earlier this month.
The company’s offer values Duke, an owner and operator of industrial real estate, at $61.68 per share – an over 29% premium on its stock’s closing price on Monday.
Duke did not immediately respond to Reuters request for comment.
Its shares jumped 22% in premarket trading.
(Reporting by Uday Sampath in Bengaluru; Editing by Rashmi Aich)
