Prologis Pushes for Talks on $16.9 Billion Segro Bid
By Anthony O. Goriainoff
Prologis said it remained ready to engage with Segro's board over its proposed 12.6 billion-pound ($16.87 billion) takeover approach.
The world's largest owner of industrial real estate said Thursday that talks would enable both companies to explore the full potential of a merger. It urged Segro shareholders to encourage the board to enter into talks.
The company said the proposal was the best way for the London-based real-estate investment trust to maximize long-term value for its shareholders and wider stakeholders.
In June, Segro's board rejected the takeover approach, calling the proposal opportunistically timed and "way short of Segro's own views on value."
Under the terms of the proposal, Segro shareholders would receive 0.084 new Prologis shares for every Segro share they own. Based on the share prices at the time of the proposal, it implies a value of 925 pence for each Segro share.
If the combination were to go ahead, existing Segro shareholders would own about 10.5% of the newly-combined global Prologis platform.
Segro didn't immediately respond to a request to comment. Its shares closed at 865 pence on Wednesday and are up 20% over the year to date.
Prologis has until July 22 to either make a formal offer for Segro or walk away under U.K. Takeover Panel rules.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 09, 2026 03:25 ET (07:25 GMT)
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