Prologis Confirms Continued Readiness to Engage with Segro Board After Rejected Bid
PLD sits 36% above its 52-week low of $103.41.
Summary
Prologis has reiterated its readiness to engage constructively with Segro's board, urging both the board and shareholders to facilitate discussions that could lead to a binding offer. This follows Prologis's $16.6 billion all-share takeover bid for UK logistics firm Segro, which was rejected on June 24th. Despite Segro subsequently forming a 50-50 joint venture on July 1st, Prologis continues to pursue or remain open to discussions. Prologis asserts that combining Segro and Prologis represents a credible path to value creation and exploring the full potential of such a combination. This indicates Prologis is keeping the potential M&A deal alive despite previous rejections and Segro's other strategic moves.
At the time of this announcement, PLD was trading at $141.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $134.2B. The 52-week trading range was $103.41 to $150.18. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.