Segro board U-turns on £14bn takeover bid by US rival Prologis
The board of UK warehouse landlord Segro has agreed to recommend a £14bn takeover bid from US-based rival Prologis. This deal marks a significant shift after previous rejections and represents a major foreign acquisition of a UK-listed company.
Why it matters
The acquisition highlights ongoing consolidation in the logistics real estate sector and concerns regarding the health of the London stock market.
Prologis, based in California, now has until 12 August to make a firm offer to buy Segro. Photograph: Education Images/Universal/Getty Prologis, based in California, now has until 12 August to make a firm offer to buy Segro. Photograph: Education Images/Universal/Getty Mergers and acquisitions Segro board U-turns on £14bn takeover bid by US rival Prologis UK warehouse landlord says board unanimous in recommendation to accept ‘best and final offer’
Prefer the Guardian on Google The board of the UK warehouse landlord Segro has U-turned and said it would be willing to accept a £14bn takeover by Segro’s bigger US rival, Prologis, in a deal that would be one of the largest foreign takeovers of a UK-listed company.
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