Jefferies has raised doubts about whether Segro, a FTSE 100 warehouse landlord, can achieve its projected growth and shareholder value without being taken over. Segro expects its development pipeline to generate £900 million in future rents and increase earnings per share from 36.6p in 2025 to around 50p by 2030. However, Jefferies criticizes Segro's use of an 8% discount rate for valuing its pipeline, suggesting a higher 10% cost of capital is more realistic. The US company Prologis has made a takeover offer valuing Segro at a 10% premium to net tangible assets, but Segro has rejected it, calling the offer opportunistic and undervaluing its unique European portfolio. Prologis must decide by July 22 whether to proceed with a bid or withdraw, with Jefferies maintaining a hold rating on Segro and a buy rating on Prologis.
Prologis has intensified its bid for SEGRO PLC, offering £13.5 billion or 993p per share, which SEGRO has rejected as undervaluing its logistics assets. The US company must decide by Tuesday whether to make a firm bid or withdraw, amid accusations th...
Prologis made a third takeover offer for SEGRO valued at about £13.5 billion, including a £2.7 billion cash option, but SEGRO's board rejected it once more. The offer values SEGRO shares at a 33.8% premium over pre-offer prices, yet SEGRO's chairman ...
US equity markets declined this week due to renewed conflict in the Middle East, which caused oil prices to surge amid concerns over supply disruptions through the Strait of Hormuz. However, cooler-than-expected inflation data (CPI and PPI) helped li...
Prologis, Inc. reported strong Q2 results with Core FFO per share rising nearly 12%, driven by diversified customers and geographies. The company is expanding into data centers and power pipelines, targeting 7.5%-10% yields by leveraging its logistic...
