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Indianapolis-based Duke Realty rejects $24 billion acquisition offer

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Indianapolis-based Duke Realty Corp. Wednesday publicly rejected an almost $24 billion supply from San Francisco-base Prologis, Inc., which is searching for to amass the actual property firm. 

In a information launch, Duke Realty known as the supply “inadequate.”

“As now we have repeatedly made clear to Prologis throughout our discussions over the previous a number of months, in line with its fiduciary duties, our Board of Administrators has rigorously evaluated proposals from Prologis and we stay open to exploring all paths to maximise shareholder worth,” the corporate mentioned. “We consider the newest supply, nearly unchanged from its prior proposals, is inadequate in that regard.”

Duke Realty mentioned it had no additional touch upon the proposal at the moment.

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Extra:State of Downtown Indy: Properties are booming however workplace vacancies stay excessive

Prologis, an actual property funding firm centered on logistics and provide chain warehouses, revealed on Tuesday that it has hunted for months to purchase Duke Realty, an Indianapolis-based industrial-focused actual property funding belief.

In a separate information launch, the San Francisco firm mentioned it had despatched a letter to chairman and CEO James B. Connor, proposing to amass Duke Realty in an all-stock transaction. The letter was despatched after earlier discussions between the 2 corporations ended. 

Prologis mentioned it first despatched a letter to Duke Realty on Nov. 29 relating to the potential acquisition of the corporate. Over the course of 5 months, Duke Realty didn’t have interaction the supply. On Might 3, Prologis modestly elevated its proposal in a remaining try to privately attain an settlement on Prologis known as “a mutually helpful transaction.” 

Prologis mentioned Duke Realty rejected the supply that very same night.

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Below Prologis’ newest proposal to Duke Realty, the Indianapolis firm’s stockholders would obtain 0.466 shares of Prologis frequent inventory for every share of Duke Realty frequent inventory they personal, in accordance with the press launch. The corporate mentioned its proposal is valued at $61.68 per Duke Realty share.

Prologis CEO and co-founder Hamid R. Moghadam known as the deal a “win-win” for each corporations’ potential shareholders. 

Extra:Indianapolis-based Kite Realty declares $7.5B merger with Illinois-based actual property group

“Prologis has a confirmed observe file serving as a frontrunner and innovator in our business. We’re recognized for offering distinctive service to prospects and delivering superior worth for our shareholders, together with the shareholders of corporations now we have merged with or acquired previously,” Moghadam mentioned within the information launch. “We’ve got little question that Duke Realty’s shareholders would equally profit from long-term worth created by the mix of our corporations.”

Duke Realty, nevertheless, feels in any other case. 

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“Our enterprise is powerful, and now we have vital momentum, as evidenced by the file ranges of in-service and stabilized occupancy and appreciable leasing success of our growth pipeline,” the Indianapolis-based firm mentioned Wednesday. “We’ll proceed to drive sustainable worth creation and are assured in our potential to generate constant double-digit development in Funds From Operations, Adjusted Funds From Operations and dividends for our shareholders for years to return.”

Duke Realty’s inventory worth climbed by mid-afternoon Wednesday greater than 8% to $53.74.

Contact IndyStar reporter Alexandria Burris at aburris@gannett.com or name 317-617-2690. Comply with her on Twitter: @allyburris.





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Indianapolis, IN

Josh Downs expects big jump in second year with the Colts

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Josh Downs expects big jump in second year with the Colts


WESTFIELD, Ind. (WISH) — Josh Downs dazzled in the wide receiver footwork drills, making cuts that were on another level compared to the rest of the group.

He rifled his feet through the ladder.

And on Saturday’s practice, him and Anthony Richardson connected for a nice pass and catch down the sideline between two defenders.

Downs has been impressive at training camp and got off to a good start in his first year, hauling in 68 receptions on 771 yards and two touchdowns, but he expects more this year.

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“Year one to year two, it’s always been a big jump for me,” Downs said. “High school, college, it was both the same.”

He’s not exaggerating. In his freshman year at North Carolina, he had seven catches for 119 yards. That skyrocketed to 101 receptions for 1,335 yards in his sophomore year. His touchdown count also jumped from three to eight.

Offensive coordinator Jim Bob Cooter agrees with Downs’ confidence. He’s been impressed with Downs so far at training camp, and thinks he’s learned a lot from his first year in the league.

“Josh (Downs) is going to make the most of that from a route running perspective from a defensive coverage identification perspective,” Cooter said. “Josh (Downs) is primed and ready to have a big camp out here and do some really good things.”

Downs is processing the game better this year. He said he’s not thinking about the route he’s running as he gets set up at the line of scrimmage. Instead, he’s analyzing the defense and determining what coverage they’re in.

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Someone that has helped him with this is cornerback Kenny Moore II. Downs considers Moore II to be at the top of his position in the NFL. He said Moore II is really smart and likes to mix it up with Downs when they’re matched up together, disguising whether he’s in man coverage or zone coverage.

Downs says he has the best slot receiver job in the league because he gets to go up against Moore II every day.

Downs has also been building his chemistry with Richardson. It’s now getting to the point where they’re running plays that aren’t in the playbook.

“We’re seeing different plays, it might not be in the playbook,” Downs said. “He’ll (Richardson) be like, ‘hey, JD, do you see this? Do that.’ I’m like, ‘I was thinking the same thing.’”

“I know Anthony (Richardson) trusts me. I trust him. We’re clicking before practice, after practice, even off the field. That’s my dog,” Downs said.

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The Colts return to practice on Sunday at Grand Park from 4 p.m. – 5:30 p.m.



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Indianapolis, IN

PHOTOS | Indy sneakerheads line up for the new Air Jordan 4

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PHOTOS | Indy sneakerheads line up for the new Air Jordan 4


The Wet Cement edition of the the Air Jordan 4 dropped Saturday morning and about a dozen people waited for the shoes outside the Corporate store in downtown Indianapolis. The first person in line told News 8 that they got in line at 7:30 a.m. for a 10 a.m. release. The “Wet Cement” Air Jordans retail for $225. (WISH Photo/Colin Baillie)

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Indianapolis, IN

IMPD: No suspect in custody in officer's shooting, but there is no 'ongoing threat'

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IMPD: No suspect in custody in officer's shooting, but there is no 'ongoing threat'


This article will update.

A police officer was injured in a shooting on the city’s far east side Friday and police were searching late into the night for whoever pulled the trigger.

Police said the event started unfolding shortly after 8:30 p.m. in the 3600 block of North Wittfield Street, near East 36th Street and North Post Road in the city’s Northeastwood neighborhood. The shooting happened after officers responded to the area on a “shots fired” call.

Shortly after the shooting police said the immediate area was not safe and residents were asked to stay inside their homes and avoid the neighborhood. About 11:15 p.m. police said a sweep of the area — including with K-9s — did not surface a suspect, but they did not believe there was an ongoing threat any longer.

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Anyone with information or video footage is asked to call 911.

“There’s a lot that we don’t know about this incident. And we’re hopeful that we will learn more later on,” Capt. Shane Foley said during a media briefing at the scene.

The 8-year veteran officer was taken to Eskenazi Hospital in stable condition.

Shortly before 1 a.m., during a briefing at the hospital, Asst. Chief Michael Wooley said a house also was hit by gunfire but no residents were struck. Wooley said no officers fired their weapons and body cameras were activated throughout the situation.

The injured officer suffered gunshot wounds to his abdomen and right arm and was stable after undergoing surgery, Chief Chris Bailey said.

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“He is expected to make a full recovery, although (he) is going to be in the hospital for some days,” Bailey added.

Police have not released a description of the suspect in the shooting, who remained at large early Saturday.

“Right now, officers are all over the city, looking for the individual or individuals responsible for what happened,” Bailey said.

Officers will remain in the neighborhood collecting evidence likely past sunrise, he added.

Indianapolis Metropolitan Police Department vehicle lines the roadway after an officer was shot in the 3600 block of Wittfield Street on the city's far east side. The officer was listed in stable condition shortly after the shooting July 26, 2024.

Indianapolis Metropolitan Police Department vehicle lines the roadway after an officer was shot in the 3600 block of Wittfield Street on the city’s far east side. The officer was listed in stable condition shortly after the shooting July 26, 2024.

Second Indianapolis police officer shot this year

This is the second time this year an Indianapolis police officer has been shot. In March an off-duty officer working security at an east side bar on East Washington Street was hit in an exchange of gunfire with at least one suspect. A man who was injured in that shooting died at a local hospital.

The bar where that shooting happened, 11:11 Bar & Grille, located at 9439 E. Washington St., was closed by unanimous vote of the Indiana Alcohol & Tobacco Commission.

11:11 Bar & Grille shooting: State shuts down club where 6 people were shot, including off-duty IMPD officer

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Bar shooting: Shooting at east side bar injures multiple people including IMPD officer

This article originally appeared on Indianapolis Star: Indianapolis police officer shot. Suspect at large late Friday





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