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FinancePrologis makes final $18.7 billion bid for UK's Segro
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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.
Source report
U.S. warehouse landlord Prologis (PLD, +0.29%) has sweetened its bid for U.K. rival Segro to £14 billion ($18.72 billion), describing the offer as its final proposal and ruling out any further increases.
The move follows calls from shareholders in both companies urging their boards to enter negotiations over a potential deal. If completed, the acquisition would see Prologis—the world’s largest owner of industrial real estate—take over its smaller competitor.
Segro owns industrial and logistics properties across Europe and is currently developing a portfolio of data centers. Earlier this week, the company indicated it would be open to engaging with Prologis if an improved bid were presented.
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Yahoo FinanceWestern
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