Overview
Prologis Inc (NYSE: PLD), the U.S. logistics real estate REIT, announced that Segro plc’s board unanimously rejected its latest takeover proposal.
Proposal Details
The revised offer, submitted on 16 July 2026, valued Segro at £13.5 billion (approximately $18.18 billion), corresponding to 993 pence per share. Consideration consists of 0.0890 new Prologis shares for each Segro share and an optional cash component of up to £2.7 billion (≈$3.6 billion).
Transaction History
This represents Prologis’ third approach since June 2026; the first was an all‑share offer that Segro also rejected. The current proposal is the second “sweetened” offer, adding the cash element.
Valuation Premiums
Jefferies analysts calculated the offer price to represent a 9.7 % premium to Segro’s pro‑forma June 2026 net asset value and a 33.8 % premium to the undisturbed share price prior to the offer period.
Deadline and Regulatory Context
Under UK takeover rules, Prologis must either announce a firm intention to make an offer or withdraw by 22 July 2026, unless the UK Takeover Panel grants an extension. If completed, the transaction would be the largest takeover involving a publicly listed European property company.
Responses
Segro did not provide an immediate comment to Investing.com’s request for comment.