Segro PLC has dismissed a £12.6 billion all-share takeover offer from US logistics giant Prologis, calling it opportunistically timed and undervaluing the company. The offer valued Segro at a 24.6% premium to its share price but was still below the board's assessment of its worth, especially considering Segro's strong development pipeline and future growth prospects. Analysts believe Prologis, with its substantial financial resources, can make a higher bid, and the initial rejection may only be the start of a bidding war. The outcome could significantly impact the UK listed property sector, as Segro represents nearly a fifth of its market value.
Segro, a major UK logistics property group, rejected a £12.6 billion all-share takeover offer from US warehouse landlord Prologis, which values Segro at 925p per share. This move has sparked investor interest in the UK property sector, lifting shares...
Prologis Inc made a £12.6 billion all-share takeover offer for Segro PLC, valuing Segro at a 24.6% premium to its recent share price. Segro rejected the proposal, which would have given Prologis shareholders about 10.5% of the combined company. Prolo...
