Overview
- Prologis disclosed that it made an all‑share proposal valuing Segro at 925p per share (about £12.6bn) that it first put to the company on June 16.
- Segro's board rejected the approach as opportunistic and far below its view of value, saying on June 23 that the offer significantly undervalued the business.
- Prologis has gone public with the proposal and urged Segro investors to press the board to engage, saying Segro shareholders would hold about 10.5% of the combined group under the deal terms.
- Segro shares jumped sharply after the approach was disclosed, moving roughly 16–19% as investors hoped for a higher bid, while the companies dispute whether a tie-up would unlock value or simply exploit a UK‑European valuation gap.
- The approach follows other overseas bids for UK firms and raises questions about London market valuations and capital access, with the near‑term outcome hinging on shareholder pressure and whether Prologis makes a firm offer by July 22.