Prologis proposed a £12.6B all-stock bid for Segro, offering a 24.6% premium, but the board swiftly rejected the offer.
Prologis disclosed an unsolicited £12.6 billion ($16.6 billion) all-stock bid to acquire UK-based logistics real estate firm Segro. The offer included a 24.6% premium over Segro’s closing share price but was immediately rejected by Segro’s board as inadequate.
Segro’s shares surged following the announcement, reflecting investor expectations of a potential bidding war or higher offer. The proposal comes amid rising demand for industrial property assets, driven by e-commerce growth and supply chain investments.
No immediate market reaction from Prologis was reported, though Segro’s stock rose sharply in early trading.