Segro Rejects Sweetened $18.18B Prologis Bid, Third Rebuff
PLD sits 45% above its 52-week low of $103.41.
Summary
Segro has rejected Prologis's third takeover proposal, which values the UK warehouse landlord at £13.5 billion ($18.18 billion). The sweetened offer, also reported as $18.2 billion, is the third rebuff since Prologis's initial $16.6 billion all-share bid in late June. The repeated rejections raise doubts about a friendly deal, and Prologis may need to pursue a hostile approach or offer a significantly higher premium. Prologis's recent Q2 beat and raised guidance underscore its financial capacity to pursue the acquisition.
At the time of this announcement, PLD was trading at $149.79 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $142.6B. The 52-week trading range was $103.41 to $153.35. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.