Prologis acquires UK's Segro in £14.3bn logistics property merger
US-based Prologis has agreed to acquire London-listed Segro for £14.3 billion ($18.8 billion), creating one of the world's largest logistics property owners with $269 billion in assets and 368 million square feet across Europe. Segro shareholders will receive 0.092 Prologis shares per share, with a £3.5 billion cash alternative. The deal, recommended by Segro's board after multiple rejections, is expected to close in the first half of 2027, subject to approvals. Prologis will also seek a secondary London listing.
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Prologis says $18.8B takeover of Segro moving forward
Prologis announced on Tuesday that it will proceed with its $18.8 billion acquisition of London-based logistics warehouse operator Segro, after putting forward a 'best-and-final' offer last month following multiple rejections from Segro's board. To help fund the transaction, Prologis launched a public offering of 15 million shares of common stock, expected to generate $2.1 billion in gross proceeds, with underwriters J.P. Morgan and BofA Securities having a 30-day option to purchase additional shares. The deal will expand Prologis' European portfolio by 47% to 368 million square feet and give it a development pipeline of 13 million square feet on the continent. The combined entity will have $269 billion of assets under management. Segro stockholders will receive 0.092 new Prologis shares for each share held, with an option to receive up to 25% in cash. The deal is expected to close in the first half of 2027 and be neutral to slightly dilutive to Prologis' funds from operations in the first full year. Prologis will also seek a secondary listing on the London Stock Exchange.
Prologis says $18.8B takeover of Segro moving forward
Prologis, a US-based logistics real estate company, announced on Tuesday that it will proceed with its $18.8 billion acquisition of London-based warehouse operator Segro. The deal follows multiple rejections from Segro's board and Prologis' subsequent 'best-and-final' offer. To help fund the transaction, Prologis launched a public offering of 15 million shares of common stock, expected to generate $2.1 billion in gross proceeds. The acquisition will expand Prologis' European portfolio by 47% to 368 million square feet and give it a development pipeline of 13 million square feet on the continent. The combined entity will have $269 billion of assets under management. Segro stockholders will receive 0.092 new Prologis shares for each share held, with an option for up to 25% in cash. The deal is expected to be neutral to slightly dilutive to Prologis' funds from operations in the first full year after closing, which is scheduled for the first half of 2027. Prologis will also seek a secondary listing on the London Stock Exchange.
Prologis to Acquire Segro for $18.8 Billion, Expanding European Logistics Portfolio
Prologis, the US-based logistics real estate giant, announced it will proceed with its $18.8 billion acquisition of London-based warehouse operator Segro after putting forward a 'best-and-final' offer that overcame multiple rejections from Segro's board. To help fund the transaction, Prologis launched a public offering of 15 million shares of common stock, expected to generate $2.1 billion in gross proceeds, with underwriters J.P. Morgan and BofA Securities having a 30-day option to purchase additional shares. The acquisition will expand Prologis' European portfolio by 47% to 368 million square feet and provide a development pipeline of 13 million square feet on the continent. The combined entity will have $269 billion of assets under management. Segro stockholders will receive 0.092 new Prologis shares for each share held, with an option to receive up to 25% in cash. The deal is expected to be neutral to slightly dilutive to Prologis' funds from operations in the first full year following closing, which is scheduled for the first half of 2027. Prologis will also seek a secondary listing on the London Stock Exchange. The story highlights how logistics real estate is becoming an increasingly strategic and consolidated asset class.
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Prologis says $18.8B takeover of Segro moving forward
Prologis, a US-based logistics real estate giant, announced it will proceed with its $18.8 billion acquisition of London-based warehouse operator Segro after multiple board rejections. To fund the deal, Prologis launched a public offering of 15 million shares expected to generate $2.1 billion in gross proceeds, with underwriters J.P. Morgan and BofA Securities having an option for additional shares. The acquisition will expand Prologis' European portfolio by 47% to 368 million square feet and add a development pipeline of 13 million square feet. The combined entity will have $269 billion in assets under management. Segro stockholders will receive 0.092 new Prologis shares per share held, with an option for up to 25% cash. The deal is expected to be neutral to slightly dilutive to Prologis' funds from operations in the first full year after closing, scheduled for the first half of 2027. Prologis will also seek a secondary listing on the London Stock Exchange.
Prologis says $18.8B takeover of Segro moving forward
Prologis announced it will proceed with its $18.8 billion acquisition of London-based logistics warehouse operator Segro, after putting forward a 'best-and-final' offer last month following multiple rejections from Segro's board. To help fund the deal, Prologis launched a public offering of 15 million shares of common stock, expected to generate $2.1 billion in gross proceeds, with underwriters J.P. Morgan and BofA Securities having a 30-day option to purchase additional shares. The acquisition will expand Prologis' European portfolio by 47% to 368 million square feet and give it a development pipeline of 13 million square feet in Europe. The combined entity will have $269 billion in assets under management. Segro stockholders will receive 0.092 new Prologis shares for each share held, with an option to receive up to 25% in cash. The deal is expected to be neutral to minimally dilutive to Prologis' funds from operations in the first full year after closing, scheduled for the first half of 2027. Prologis will also seek a secondary listing on the London Stock Exchange.
Prologis Acquires Segro in £14.3 Billion Logistics Property Merger
Prologis has agreed to acquire Segro Plc in a deal valued at approximately £14.3 billion, creating one of the world's largest logistics property owners. The combined entity will manage around $269 billion in assets and approximately 368 million square feet of logistics space across Europe. Under the terms, Segro shareholders will receive 0.0920 Prologis shares per share, valuing Segro at 1,031.7 pence per share, a 14.4% premium to its net asset value. A cash alternative of up to £3.5 billion is available. The deal significantly expands Prologis' European footprint, adding Segro's warehouse portfolio and development pipeline. Segro's board has unanimously recommended the transaction, which is expected to close in the first half of 2027, subject to shareholder and regulatory approvals. Prologis expects minimal impact on core FFO per share in the first full year post-completion.
FTSE 100 Segro agrees to £14bn takeover by Prologis
FTSE 100 property firm Segro has agreed to a £14.3bn takeover by US-based Prologis, ending a long tussle between the two real estate giants. The deal, which will complete in the first half of next year, sees Segro shareholders receive 0.92 Prologis shares for each Segro share, with a partial cash alternative of £3.5bn. This marks another high-profile exit from the London Stock Exchange, with 11 firms worth over £1bn having quit the market via takeovers this year. The agreement follows weeks of public exchanges, with Segro CEO David Sleath previously calling Prologis' initial £12.6bn offer 'opportunistic, one-sided and inadequate'. The final offer represents a 39% premium to Segro's share price on the day of Prologis' first approach. Both CEOs expressed confidence in the combined platform's ability to create value in modern logistics and data centre infrastructure.