Overview
- Prologis submitted its final improved proposal that values Segro at about £14bn and offers 0.092 Prologis shares per Segro share plus £3.5bn in cash, which the US firm says is its last offer.
- Segro has not accepted the new proposal and its board previously rejected earlier approaches as opportunistic, arguing the company can deliver better value on a standalone basis.
- Major investors including Norges Bank and APG have urged the two boards to hold constructive talks and to consider the proposal rather than immediately walk away.
- The takeover fight centers on sharply different views of Segro’s long‑dated development pipeline and data‑centre assets, with Prologis saying those projects are risky and Segro defending their embedded value.
- If completed the deal would leave existing Segro shareholders with roughly a 9–9.2% stake in Prologis and could prompt a secondary London listing by Prologis, while the UK takeover timetable and a 5pm London deadline shape the next steps.