Prologis 993p offer for SEGRO faces July 22 deadline

• Prologis issued a Rule 2.4 announcement regarding a possible all-share combination with SEGRO.
• The proposal implies a consideration of 993 pence per share, representing a 9.7% net asset value premium.
• The company must announce a firm offer or formally withdraw its bid by July 22, 2026.

Prologis (NYSE:PLD) issued a regulatory announcement regarding a possible all-share combination with London-based logistics operator SEGRO.

The public disclosure follows recent corporate meetings with target management regarding a property portfolio valued at £19 billion.

The acquiring company stated that the proposal implies a see-through consideration of 993 pence per target share.

The proposed pricing represents a 9.7% premium to the latest pro forma adjusted net asset value of 905 pence.

The target real estate portfolio includes £16.7 billion of completed assets generating a 4.2% net initial yield.

Regulators require the acquiring firm to declare a formal intention or withdraw by 5:00 pm London time on July 22, 2026.