Segro to be taken over by Prologis in £14.3bn deal
By Michele Maatouk
Date: Tuesday 04 Aug 2026
(Sharecast News) - Segro said on Tuesday that it has agreed to be taken over by US logistics giant Prologis in a £14.3bn deal.
Under the terms of the agreement, Segro will shareholders will receive 0.0920 new Prologis shares for each of their shares and a partial cash alternative of up to £3.5bn.
The deal values Segro at 1,031.7p per share, which is a 39% premium to the closing share price on 23 June, the last day before the start of the offer period.
Chief executive David Sleath said: "Prologis shares our conviction in the long-term structural drivers underpinning demand for modern logistics and data centre infrastructure.
"We believe the combination would bring together two highly complementary businesses and create a compelling platform, combining Segro's exceptional portfolio and development pipeline with Prologis' existing European business and global scale, customer franchise and operational capabilities, while retaining a shared commitment to disciplined capital allocation, customers and people."
At 1400 BST, Segro shares were up 0.6% at 966.24p.
Broker Shore Capital, which rates the stock at 'buy' with a 1,004p price target, said: "Segro is a unique business with a rich pedigree and high-quality portfolio carefully assembled in the UK and Europe over many decades - along with an attractive pipeline of data centres and traditional warehousing.
"We think there are many wider long-term attractions that being part of Prologis can offer shareholders, including significantly greater scale, global reach, bigger balance sheet, third party capital and more highly resourced capabilities in development, data centres and power sourcing. The chance to remain invested in a listed REIT of Prologis's calibre should also be seen as highly appealing with our expectations of the deal creating future value from a broadly neutral effect to earnings (AFFO) in its first full year.
"The future for industrial real estate continues to look promising to us and we think Prologis offers an attractive vehicle through which to retain exposure."
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