Prologis $18.2 billion takeover bid rejected by Segro
Share
- Prologis stated that Segro rejected its third enhanced £13.5 billion acquisition proposal.
- The latest offer represented a 6% increase above the initial proposal with a 20% cash component.
- The acquiring company stated the business combination would lower capital costs and expand logistics networks.
Prologis (NYSE:PLD) announced its third enhanced takeover bid valued at £13.5 billion was rejected by Segro.
The latest $18.2 billion proposal represented a 6% increase above the initial offer with a 41% premium.
"Prologis' proposal provides upfront value, greater flexibility and long-term upside opportunity," said Prologis management representatives.
The terms would have given target shareholders 0.089 new shares with an optional 20% cash component.
Following the announcement, Prologis share's price was down at 1.1%.
Segro management stated that the proposals were opportunistically timed to capitalize on a dislocated share price.
Prologis previously raised its full-year 2026 outlook following record leasing activity across its logistics network.
Frequently asked questions
More from United States
Merck raises FY profit outlook as Q3 revenue climbs 5% to $18.1B
Eli Lilly Q3 revenue surges 39% to $24.4 billion as guidance rises
Enterprise Products Q3 EBITDA jumps 16% to $2.8 billion
KBR Q3 revenue rises 5% to $2 billion as adjusted EBITDA grows 12%
Enerflex Q3 free cash flow rises to $102 million as net earnings climb
WTW Q3 revenue rises 8% to $2.46 billion as AI savings plan advances
