US REIT Prologis Presses £12.6bn Takeover Bid for UK's Segro, Rejected
US logistics giant Prologis made a £12.6bn ($16.6bn) unsolicited all-stock takeover bid for UK-based FTSE 100 real estate investment trust Segro, offering a 25% premium. Segro's board unanimously rejected the offer as "opportunistically timed" and undervaluing the company, citing strong growth prospects in data centres driven by AI demand. Prologis went public to pressure shareholders, highlighting benefits of combining into a larger European logistics network. The bid is subject to UK takeover rules, with a July 22 deadline.
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Segro Shares Surge After Board Accepts Prologis's Final $18.7 Billion Takeover Bid
Shares in UK-based warehouse company Segro rose to a near four-year high after its board accepted a final £14 billion ($18.72 billion) takeover offer from US logistics giant Prologis, having rejected three earlier bids. London-listed shares jumped 7.1% to 958.60 pence in early trading on July 23, 2026, a level not seen since September 2022. The stock is up 33% year-to-date. Accepting shareholders will also be eligible to receive Segro's interim dividend. The deal marks a significant consolidation in the global warehouse and logistics real estate sector.
British data centre owner Segro set for £14bn US takeover by Prologis
Segro, a British data centre owner based in Slough, is set to accept a £14bn takeover offer from US warehousing giant Prologis. The all-share offer of £10.32 per share, which includes a cash alternative, is Prologis's fourth proposal after previous bids were rejected as undervaluing the company. Segro faced shareholder pressure from Norges Bank Investment Management and CCLA Investment Management to accept the deal. If completed, it would be the largest takeover of a London-listed company in 2026. Prologis has signaled it may pursue a secondary London listing to allow shareholders continued exposure. The deal adds to a wave of takeovers of UK-listed firms, including Mitie's £3.1bn acquisition by OCS Group and Rotork's £4.1bn takeover by ABB, reigniting debate about London's competitiveness as a stock market.
Segro's board will back Prologis' $18.7B takeover bid
London-based logistics warehouse operator Segro has agreed to back an increased takeover bid from US real estate investment trust Prologis, valuing Segro at £14 billion ($18.7 billion). The new offer, described as Prologis' 'best-and-final,' increases the cash payout option for Segro shareholders to 25% (up from 20%) and represents a 9.5% increase over the initial June 24 offer and a 47% premium to Segro's three-month weighted average share price. The UK Takeover Panel has extended the deadline to August 12 for Prologis to finalize its intentions. Prologis argues the combination would give Segro access to a larger logistics portfolio and lower cost of capital, while Segro's development pipeline faces funding challenges. Segro shares rose 2.9% on the news, while Prologis shares fell 3.1%.
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FTSE 100 Segro ‘minded to accept’ £14bn Prologis takeover
Segro, a FTSE 100 property firm, announced its board is 'minded to accept' a £14bn takeover offer from US real estate giant Prologis. The decision came just minutes before the original deadline, which has now been extended to 12 August for Prologis to submit a binding offer. The deal values Segro at £10.54 per share, exchanging 0.0920 new Prologis shares for each Segro share. Segro CEO David Sleath had previously called the bid 'opportunistic'. If completed, Segro would become the latest blue-chip company to leave the London Stock Exchange.
Prologis Makes Final $18.7 Billion Bid to Take Over U.K.’s Segro
U.S. warehouse landlord Prologis has sweetened its bid for U.K. rival Segro to £14 billion ($18.72 billion), calling it a final proposal and ruling out further increases. The move follows pressure from shareholders in both companies for their boards to negotiate a deal. If completed, the acquisition would see Prologis, the world's largest owner of industrial real estate, take over Segro, which owns industrial and logistics properties across Europe and is developing a portfolio of data centers. Segro earlier this week indicated it would engage with Prologis if an improved bid was presented. The bid represents a significant consolidation in the global industrial real estate sector.
Prologis Tables 'Best and Final' £14bn Offer for Segro
US real estate firm Prologis has tabled a 'best and final' £14bn offer for FTSE 100 property company Segro, valuing it at £10.32 per share. The bid consists of 0.0920 Prologis shares per Segro share plus £3.5bn in cash. This follows weeks of rejected proposals, with Segro previously dismissing bids as 'opportunistic, one-sided and inadequate'. Major shareholders including Norges Bank (8.3% of Segro) and APG Asset Management have urged both boards to enter constructive talks. Prologis CEO Dan Letter stated the combination would deliver meaningful value and that this is their final offer. Segro shares rose nearly 4% on the news. The 'put up or shut up' deadline is set for 5pm today, with Prologis seeking an extension to negotiate.
Prologis tables $18.8 billion takeover proposal for UK’s Segro
Prologis, a global logistics real estate company, has made an $18.8 billion takeover proposal for UK-based industrial property firm Segro. The bid, if successful, would create a major logistics property group with significant presence in Europe and the US. The proposal reflects ongoing consolidation in the industrial real estate sector driven by e-commerce demand. Segro has not yet publicly responded to the offer. The deal would be one of the largest in the sector this year.
Prologis-Segro takeover battle turns into spat over CEO ages
Prologis, the world's largest listed real estate company, is attempting to acquire UK-based FTSE 100 firm Segro. The takeover bid has devolved into a personal dispute over the ages of the companies' chief executives. Prologis has warned Segro investors that its 65-year-old CEO David Sleath is nearing retirement, suggesting Segro would be better off as a division of the US firm. Segro has pushed back, noting that Prologis's own former CEO Hamid Modghadam retired at 69, four years older than Sleath. Sleath, who has led Segro for 15 years, denies retirement rumors and says his health tracker age is 51. The two management teams met on Sunday but failed to reach an agreement. Norges Bank, which owns stakes in both companies, has urged them to enter constructive talks. Prologis's latest £13.5bn bid was rejected over the weekend.
Segro rejects Prologis' enhanced $18.2 billion takeover bid
Prologis, the San Francisco-based logistics real estate giant, announced Monday that its third and enhanced takeover bid for London-based Segro, valued at £13.5 billion ($18.2 billion), has been rejected by Segro's board. The offer represented a 6% increase over the initial proposal and included a 20% cash component, a shift from prior all-stock offers. Prologis argued the combination would give Segro access to a larger network and lower capital costs, while Segro called the bid 'opportunistically timed' to capitalize on a dislocated share price. Segro stated it would consider any proposal that reflects its 'considerable embedded value.' Under British takeover rules, Prologis has until 5:00 pm London time on Wednesday to finalize firm intentions. Segro shares have risen 21% since the first bid on June 24.
Segro Rejects Prologis' Enhanced $18.2 Billion Takeover Bid
Prologis, a San Francisco-based logistics real estate giant, announced on Monday that its enhanced £13.5 billion ($18.2 billion) bid to acquire UK-based Segro had been rejected. This third offer, a 6% increase over the initial proposal, included a 20% cash component and represented a 41% premium to Segro's three-month weighted average share price. Prologis argues the combination would give Segro access to a larger network and lower cost of capital, while Segro dismissed the bid as 'opportunistically timed' to capitalize on a dislocated share price. Segro stated it would consider any proposal that reflects its 'considerable embedded value.' Under British takeover rules, Prologis has until 5:00 pm London time on Wednesday to finalize its intentions. Segro's shares have risen 21% since the first bid on June 24.
Prologis Says Segro Rejected Sweetened $18.2 Billion Offer
Prologis, the world's largest owner of industrial real estate, announced that its sweetened third takeover offer for British industrial real-estate company Segro, valued at approximately 13.5 billion pounds ($18.16 billion), was rejected by Segro's board on Friday. The board unanimously rejected the bids, stating that Segro's growth strategy and standalone prospects offer better value than the proposed acquisition. However, the door was left open for improved future bids. This rejection follows a second approach that was rebuffed on July 12. The news was reported by Yahoo Finance on July 20, 2026.
FTSE 100 property giant Segro rejects third Prologis takeover bid
Segro, a FTSE 100 real estate firm, has rejected a second and third takeover bid from US rival Prologis. The latest bid valued Segro at £13.5bn, or £9.93 per share, offering 0.0890 Prologis shares plus £2.7bn in cash per Segro share, a 9.7% premium. Prologis criticized Segro's valuation as 'unrealistic,' arguing Segro understated risks in its development projects. The dispute centers on the value of each firm's data centre portfolio. Prologis is considering a secondary London listing. Analysts at Stifel suggested a possible 1,110p per share deal but warned a sale could harm the UK-listed real estate sector. A source close to the matter expects Prologis to pursue Segro 'aggressively,' predicting a messy battle ahead.
Prologis intensifies pressure on Segro with £12.6bn takeover bid
US real estate giant Prologis has escalated its pursuit of FTSE 100 rival Segro, urging shareholders to engage with its £12.6bn takeover bid. Prologis argues the 925p-per-share offer provides a substantial upfront premium and access to a larger global data centre platform. Segro has strongly rejected the proposal, calling it opportunistic and inadequate, and unveiled a joint venture for a new data centre in Paris to demonstrate its independent growth strategy. The two firms are at odds over valuation, with Segro claiming its investment pipeline will add significant value. Segro shares rose slightly on Thursday, up 21% year-to-date.
FTSE 100 property firm Segro slams Prologis takeover bid as 'opportunistic, one-sided, inadequate'
UK real estate investment trust Segro has strongly rejected a £12.6bn takeover bid from US rival Prologis, calling the offer 'opportunistic, one-sided and inadequate'. In a presentation to shareholders, CEO David Sleath accused Prologis of trying to take advantage of Segro's share price dip caused by the Iran war. Segro, which has invested heavily in data centres, argued the bid significantly undervalues its assets, including a £1.6bn industrial pipeline and a £2.5bn data centre pipeline. The company also criticized Prologis for failing to account for tax benefits and for proposing to dilute Segro shareholders' exposure to its unique portfolio. Despite the rejection, Segro shares slipped 1% to 868p on the day of the announcement, though they remain up 22% year-to-date.
Prologis Presses Segro After $16.6B Takeover Offer Rejected
Prologis, a US-based real estate investment trust, is intensifying its pursuit of UK logistics warehouse operator Segro after Segro rejected a £12.6 billion ($16.6 billion) all-stock takeover bid. Prologis argues the deal would unlock significant value for Segro shareholders, citing a 25% premium, access to a larger logistics network, and a 'fortress balance sheet.' It claims Segro's standalone performance has lagged, with total shareholder returns declining 20.1% over five years versus Prologis' 38.6% gain. The combined entity would more than triple Segro's European footprint to 363 million square feet. Segro's chairman rejected the offer as 'inadequate, opportunistic and one-sided,' citing dislocation from the Middle East conflict. Market reaction was mixed, with Prologis shares down 2.2% and Segro shares up 7.8%.
Prologis intensifies pursuit of Segro after $16.6 billion offer rejected
Prologis, a US-based logistics real estate investment trust, is pressing its takeover bid for UK-based Segro after an all-stock offer valued at £12.6 billion ($16.6 billion) was rejected last week. Prologis outlined the strategic benefits of the deal on Tuesday, claiming it would unlock value for Segro shareholders through access to its larger network and 'fortress balance sheet,' while criticizing Segro's lagging returns and reliance on dilutive equity. Segro's chairman, Andy Harrison, dismissed the offer as 'inadequate, opportunistic and one-sided,' asserting the company's standalone growth prospects are superior. The proposed combination would more than triple Segro's European footprint to 363 million square feet and enhance its data center development. Market reaction has been mixed, with Prologis shares falling 2.2% and Segro shares rising 7.8%.
AI Landlord Targeted for £12bn Takeover
British warehouse and data centre landlord Segro has rejected a £12.6bn takeover approach from US rival Prologis, the world's largest logistics real estate investment trust. The FTSE-100-listed Segro, which owns Europe's biggest hub of data centres in Slough, Berkshire, said the proposal was 'opportunistically timed' and undervalued the company amid geopolitical issues affecting UK and European real estate valuations. Prologis, valued at $135bn, had offered 925p per share, below Segro's perceived value. Segro has been expanding its data centre portfolio to meet AI demand, recently securing planning permission for a £1bn site in west London. The rejection follows a similar pattern where easyJet also rebuffed a US takeover bid earlier the same week, highlighting pressure on London-listed companies from American suitors.
Segro Soars After Rejecting Prologis Takeover Bid, Boosting UK Real Estate Stocks
Segro, a UK-based real estate investment trust, saw its shares surge after rejecting a takeover bid from US logistics giant Prologis. The rejection lifted sentiment across the UK real estate sector, with other property stocks also gaining. The bid, which was not disclosed in detail, was deemed insufficient by Segro's board. The news highlights ongoing consolidation pressure in the European logistics and industrial property market, driven by robust demand for warehouse space. Segro's board stated that the offer undervalued the company and its future growth prospects. Analysts noted that such premium-hunting bids could continue as global players seek to expand in the UK market. The development underscores the resilience of UK real estate despite broader economic uncertainties.
FTSE 100 Segro rejects £12.6bn takeover bid from US real estate giant Prologis
Real estate investment trust Segro has rejected a £12.6 billion takeover bid from US-based Prologis, which wants to combine the two firms into a single global investment trust. Prologis went public with its offer to pressure Segro shareholders, valuing Segro shares at 925p each—a near 25% premium over the closing price of 742p on Tuesday. Under the proposal, Segro investors would own roughly 10.5% of the combined entity. Prologis argued the merger would unlock investment opportunities that Segro cannot achieve independently due to balance sheet and trading discount constraints. Segro's board unanimously rejected the proposal on June 23. Under UK takeover rules, Prologis has until 5 PM on July 22 to either make a formal bid or walk away for at least six months.