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Bonser and McEvoy were recognized for their work representing Duke Realty in its approximately US$23 billion all-stock combination with Prologis Inc., a publicly listed global leader in logistics real estate. The transaction is believed to be the largest REIT M&A transaction in history, and has also been recognized as the largest commercial real estate sale following the onset of COVID.
Bonser and McEvoy advised Duke Realty on the unsolicited public offer from Prologis and its initial rejection. They led the negotiations on behalf of Duke Realty as the situation moved from a potentially hostile transaction to a negotiated transaction that was agreeable to both parties. Their quick efforts to lead a large team enabled the client to get the deal to signing in less than two weeks.
Commenting on the award, Bonser, who serves as the Global Managing Partner of the firm’s Corporate practice, said: “As delighted as Stacey and I are to receive this award, we both recognize that this really is a team award, as our work to advise Duke Realty was part of a huge team effort. The award is a testament to the firm’s longstanding strength in the REITs sector, and the firm’s depth across the multiple practice areas that are required to get a transaction like this successfully completed.”
McEvoy, who serves as the deputy lead of the Americas Corporate and Finance practice, added: “It is always bittersweet when a client you have worked closely with for many years is sold. That Duke Realty entrusted our team to help them navigate this challenging and transformative transaction demonstrates our team’s capabilities to get deals like this across the finish line. We are proud to be named among The American Lawyer’s Dealmakers of the Year for our work on this deal.”
The American Lawyer profile on Bonser and McEvoy can be found here, and more details on the Duke Realty transaction can be found here.