US real estate investment trust Prologis has confirmed a £14 billion agreement to acquire FTSE 100 logistics landlord Segro, marking a decisive end to a months-long merger standoff.
The deal represents a significant escalation from previous offers, which Segro had firmly rejected as undervaluing the British company.
5 billion. In both instances, Segro argued that the offers failed to reflect the true value of its industrial property portfolio and growth prospects.
The confirmation follows a series of rejections by Segro’s board, which previously turned down a £12.6 billion all-share proposal and a subsequent revised bid of £13.5 billion.
In both instances, Segro argued that the offers failed to reflect the true value of its industrial property portfolio and growth prospects.
The final £14 billion figure suggests Prologis has met the premium threshold required to secure board and shareholder approval, resolving the uncertainty that has hung over the UK logistics sector.
This transaction consolidates Prologis’s position as the global leader in industrial real estate, adding Segro’s extensive European warehouse network to its existing holdings.