Segro Stock News

Segro PLC (LSE:SGRO) has agreed to a £14 billion takeover by US logistics property group Prologis, bringing one of Britain's largest real estate investment trusts under American control. Under the recommended offer, investors in the FTSE 100 warehouse owner will receive 0.092 Prologis shares for each share they own.

Segro's directors intend to unanimously recommend the offer to shareholders who will be entitled to receive 0.0920 newly issued shares in Prologis for each Segro share held, with a partial cash alternative.

British warehouse ​landlord Segro ‌said on ​Tuesday ​it had agreed ⁠to ​a takeover ​bid from U.S. ​logistics ​firm Prologis worth ‌up ⁠to £14.3 billion ($19.19 billion).

Shares hit a near four-year high after Segro said late Wednesday that it would recommend Prologis's latest proposal to shareholders.

SEGRO PLC (LSE:SGRO) shares jumped 7% to 957p in early trading on Thursday after the board of the warehouse developer said it "would be minded" to recommend the "best and final" takeover proposal made by Prologis Inc (NYSE:PLD), after the US logistics property group raised its offer and committed to a secondary London listing. Prologis offered 0.092 new shares for each Segro share, alongside a ...

SEGRO PLC (LSE:SGRO) shares jumped as US logistics property giant Prologis Inc (NYSE:PLD) raised its bid in what it described as a "best and final" offer, and called for a longer deadline for negotiations. The revised proposal values the FTSE 100 property group at around £14 billion, with shareholders offered 0.092 new Prologis shares for each Segro share – a 9.5% improvement on its initial app...

Prologis—the world's largest owner of industrial real estate—made a 9.5% increase over its initial proposal to take over its smaller U.K. rival, but ruled out further increases.