Prologis Makes Last-Minute £14B Bid for Segro at £10.32/Share
PLD sits 45% above its 52-week low of $103.41.
Summary
Prologis has made a last-minute, improved offer for UK logistics firm Segro, valuing it at approximately £14 billion ($18.8 billion) or £10.32 per share. The new bid, submitted ahead of a takeover deadline, is described as a 'Best and Final* Proposal' and includes a request for an extension of the PUSU deadline. This comes just two days after Segro rejected a third proposal worth £13.5 billion, and follows public pressure from major shareholders including Norway's sovereign wealth fund and CCLA Investment Management. The specific per-share price and the deadline add urgency, making this a material escalation in the takeover saga. With Prologis trading near its 52-week high and the industrial real estate sector consolidating, a successful acquisition would significantly expand its European footprint.
At the time of this announcement, PLD was trading at $149.65 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $142.7B. The 52-week trading range was $103.41 to $153.35. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.