Prologis $18.2 billion takeover bid rejected by Segro
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- 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.
