Morningstar

Prologis Rebuffed in $16.6 Billion Takeover Approach for U.K.'s Segro

Provided by Dow Jones Jun 24, 2026, 6:35:00 AM

By Adria Calatayud

Prologis, the world's largest owner of industrial real estate, said it made a 12.6 billion-pound ($16.63 billion) takeover approach for smaller U.K. peer Segro, which turned down the proposal.

Under Prologis's proposal, Segro shareholders would have received 0.084 new Prologis shares for each Segro share held, implying a value of 925 pence a share, the U.S. company said Wednesday. This represents a 25% premium to Segro's closing price on Tuesday, it added.

Segro's board unequivocally rejected the proposal, Prologis said.

Prologis said it sees a clear strategic rationale for a combination and urged Segro shareholders to encourage the board to engage with Prologis and allow them to consider an offer.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

June 24, 2026 02:35 ET (06:35 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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