SEGRO plc has unequivocally rejected an indicative all-share takeover proposal from Prologis, Inc. that valued the UK logistics real estate group at approximately £12.6 billion. Under the terms sent to SEGRO's board on 16 June 2026, SEGRO shareholders would receive 0.084 new Prologis shares for each SEGRO share, implying a value of 925 pence per share based on Prologis' closing price of $145.3 and a GBP:USD exchange rate of 1.32 on 23 June 2026. The proposal represented a 24.6% premium to SEGRO's closing price that day and a 31.4% premium to the three-month volume-weighted average price. Prologis argued the combination would unlock significant embedded value in SEGRO's development and data center pipeline, provide SEGRO shareholders with a 10.5% stake in the world's largest logistics REIT, and deliver accelerated growth through balance sheet strength and synergies. Prologis urged SEGRO shareholders to encourage the board to engage, but there can be no certainty a firm offer will be made, and Prologis has until 22 July 2026 to announce a firm intention or withdraw under UK takeover rules.
Segro PlcSEGRO received a premium takeover proposal from Prologis, indicating high valuation and potential for shareholders.
Prologis IncPrologis made a takeover bid for SEGRO, which if successful would expand its portfolio and create synergies.