Warehouse developer Segro accepts £14bn takeover offer from Prologsis
The recommended deal would expand Prologis’s European footprint by 47% and add a 368 million-square-foot operating portfolio, the companies said.
- On Tuesday, Prologis announced a recommended acquisition of UK-based warehouse developer SEGRO, valuing the FTSE 100 business at £14.3 billion.
- Prologis secured the deal after weeks of negotiations, having previously seen three takeover offers rebuffed by the SEGRO board as the giants clashed over data centre portfolio valuations.
- Under the terms, shareholders receive 0.92 Prologis shares for each SEGRO share, with a partial cash option totaling £3.5 billion; the final proposal represents a 39 per cent premium to the target's initial share price.
- The SEGRO board unanimously intends to recommend the deal, expected to close in the first half of next year, while Prologis plans to apply for a secondary listing on the London Stock Exchange upon completion.
- This transaction expands the Prologis European platform by 47% and increases its land bank by 126%, marking the latest prominent departure from the London Stock Exchange, where 11 companies valued above £1 billion have exited this year.
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Prologis announced an agreement to buy the British rival Segro for £14 billion, in a business that expands the European presence of the American warehouse owner. Exclusive material for subscribers. To have full access, access the link of the material and register.
Both companies are strong in their warehouse business. The acquisition is one of the largest foreign acquisitions of a listed British company.
Prologis Announces Recommended Acquisition of SEGRO plc
Combination expands Prologis’ European platform and enhances long-term growth opportunities SAN FRANCISCO, Aug. 4, 2026 /PRNewswire/ — Prologis, Inc. (NYSE: PLD) today announced that it has reached agreement with the board of SEGRO plc (LSE: SGRO) on the terms of a recommended acquisition of SEGRO, valuing SEGRO’s entire issued and to be issued ordinary share capital at approximately $18.8 billion. Daniel S. Letter, chief executive officer of Pr…
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