Prologis Makes Final $18.7 Billion Bid to Take Over Segro
By Adria Calatayud
U.S. warehouse owner Prologis said it is sweetening its bid to take over smaller U.K. rival Segro to 14 billion pounds ($18.72 billion), but ruled out further increases.
Prologis, the world's largest owner of industrial real estate, said Wednesday that it is offering 0.092 new shares for each Segro share tendered, a 9.5% increase over its initial proposal. The company is also offering a partial cash alternative of up to 3.5 billion pounds, or a quarter of the total price.
Segro shares climbed 4.7% after the new bid was disclosed.
Segro didn't immediately respond to a request for comment. The company earlier this week said it had rejected a previous proposal from Prologis but that it would be available to engage with its suitor with an improved bid on the table.
"We have listened to feedback from shareholders and this morning, we have improved our proposal to make a compelling offer to the Segro board," Prologis Chief Executive Dan Letter said.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
July 22, 2026 05:43 ET (09:43 GMT)
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