finance
Segro rejects £12.6 billion takeover proposal from Prologis
Segro turned down a 925p-per-share offer from Prologis on June 23. The U.S. firm disclosed the approach on June 24 and said it would seek shareholder support.
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Segro rejected a £12.6 billion takeover proposal from Prologis on June 23. Prologis disclosed the approach the next day and said the offer valued Segro shares at 925p each. Under the proposed terms, Segro shareholders would hold about 10.5 percent of the combined company. Prologis stated it made the approach public to gain backing from Segro investors.
Background on other UK deals The move follows several recent bids for British companies. On June 23, easyJet rejected a £4.74 billion offer from U.S. fund Castlelake. Last week, Intertek agreed to a £9.5 billion takeover by Swedish investor EQT. Prologis said the combination would give Segro shareholders stakes in the world’s largest logistics real estate investment trust, which has a market capitalization of $140.9 billion.
m. on July 22 to make a formal bid or withdraw under UK takeover rules.
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