SEGRO shares jump 7% as board leans toward recommending Prologis takeover offer

SEGRO PLC shares rose 7% after its board indicated it would likely recommend the latest takeover offer from Prologis Inc. Prologis increased its bid, offering 0.092 new shares per SEGRO share plus up to £3.5 billion in cash, valuing SEGRO at about £14 billion. The offer includes dividends and a commitment to a secondary London listing, improving terms by 9.5% and providing a 39% premium over SEGRO's previous share price. The board's support raises the chances of the deal completing, with the deadline extended to August 12 for a firm offer announcement.