Duke Realty (DRE) Announces 64M Shares Offering
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Duke Realty Corporation (NYSE: DRE) plans to sell 64 million shares of its common stock in an underwritten public offering. The underwriters will be granted a 30-day option to purchase up to an additional 9.6 million shares of common stock.
Merrill Lynch & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated are acting as joint book-running managers for the offering.
Duke Realty intends to use the net proceeds from the offering to repay outstanding borrowings under its unsecured line of credit and for general corporate purposes.
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