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Prologis Secures Segro Board Support With £14B Takeover Bid

Prologis has won unanimous board endorsement for its revised takeover proposal for London-based logistics operator Segro, valuing the company at £14 billion ($18.7 billion). The San Francisco-based real estate investment trust increased its cash component to 25%, up from the previously capped 20%, while maintaining stock consideration. The enhanced offer represents a 5.5% increase from Prologis' initial June proposal and delivers a 47% premium to Segro's three-month weighted average share price. Prologis argues the combination grants Segro access to a substantially larger logistics real estate portfolio and reduced capital costs. The deal requires Prologis to announce a firm offer under takeover regulations. Segro's stock has risen 21% since the initial bid. The transaction underscores growing consolidation within logistics real estate as a strategic asset class.