SEGRO Board Backs Prologis' £14B Final Takeover Offer
PLD sits 43% above its 52-week low of $103.41.
Summary
SEGRO's board has unanimously decided to recommend Prologis' final £14 billion takeover offer to its shareholders, a major breakthrough after weeks of rejections. This follows Prologis' last-minute improved bid on July 22 and a shareholder push for engagement. The board's support significantly increases the likelihood of deal completion, though the extended August 12 deadline leaves room for competing bids. The all-share deal would create a global logistics giant, with Prologis' stock down 3.5% yesterday reflecting dilution concerns. The next key date is the August 12 put-up-or-shut-up deadline.
At the time of this announcement, PLD was trading at $148.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $137.8B. 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: dpa-AFX.