Prologis has reached an agreement with the board of SEGRO on a recommended acquisition valuing SEGRO's entire issued and to be issued ordinary share capital at approximately $18.8 billion. Under the terms, SEGRO shareholders will receive 0.0920 new Prologis shares for each SEGRO share, with a partial cash alternative of up to approximately £3.5 billion available. The combination will create a European operating portfolio of 368 million square feet, expanding Prologis' European footprint by 47%, and establish a combined European development pipeline of 13 million square feet while increasing Prologis' European land bank by 126%. The transaction is expected to close in the first half of 2027, subject to SEGRO shareholder approval, court sanction, regulatory approvals, and other customary conditions. Prologis expects the deal to have a broadly neutral to minimally dilutive impact on Core FFO per share and AFFO per share in the first full year following completion, and plans to maintain its A2/A credit ratings.
Prologis IncPrologis acquires SEGRO, expanding European portfolio and land bank.
Segro PlcSEGRO shareholders receive premium via share and cash offer.