Prologis confirmed that Segro rejected its third, sweetened takeover proposal for the UK-based rival. The revised offer valued Segro at approximately £13.5 billion ($18.2 billion). This bid included a partial cash alternative of up to £2.7 billion for the first time.
Segro’s board unanimously rejected the July 16 offer as an undervaluation of the company. Directors dismissed the pursuit as inadequate and opportunistic during a period of market volatility. Prologis contested this view, claiming Segro’s standalone plan and development pipeline carry understated risks.
Prologis now faces a July 22 deadline under UK takeover rules to make a firm offer or withdraw. The public dispute highlights significant consolidation interest within the logistics and data center real estate sectors.