UK Antitrust Regulator Opens Early-Stage Review of Prologis-Segro Deal
PLD is trading near its 52-week low of $121.4 (4.0% above the low).
Summary
The UK Competition and Markets Authority is seeking views on Prologis's anticipated acquisition of Segro, the first public step in its review. The CMA has not yet launched a formal investigation, so this is a preliminary consultation rather than a decision point. The deal itself was agreed in August at £14.3 billion ($19.19 billion) in an all-share transaction, and Prologis has already raised roughly $2.1 billion through a 15-million-share offering plus overallotment to help fund it. A formal Phase 1 investigation, if opened, would put a timeline on closing and any remedies the CMA might demand.
At the time of this announcement, PLD was trading at $126.31 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $122.4B. The 52-week trading range was $121.40 to $153.35. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.