🔴 PLD is trading 4.1% down today after SEGRO rejects its $16.6 billion takeover proposal

PLD is trading at $139.36 (4.1% down) after revealing an all-stock takeover proposal for U.K. logistics landlord SEGRO that was unanimously and unequivocally rejected by the board.

• The proposed cross-border acquisition is valued at approximately £12.6 billion ($16.6 billion).
• Investors are reacting to the potential scale, risk, and uncertainty associated with the massive transaction.
• The decline is largely stock-specific, as broader U.S. equity indices are currently trading modestly higher.