UK's Segro rejects Prologis' $18.2 billion sweetened takeover proposal

Prologis has made a third takeover proposal for UK warehouse landlord Segro, but Segro’s board unanimously rejected it. The revised offer valued Segro at £13.5 billion, or £9.93 per share, and included 0.0890 new Prologis shares per Segro share plus a partial cash alternative of up to £2.7 billion. The rejection highlights continued resistance from Segro to a deal it previously said was opportunistically timed and below fair value. The news is negative for Prologis’ acquisition ambitions and keeps speculation alive around further negotiations or a possible escalation, while underscoring valuation pressure in the industrial/logistics real estate sector.