Prologis Issues Final £14 Billion Bid for SEGRO

The offer values each SEGRO share at 1,031.7 pence, combining 0.0920 new Prologis shares with a partial cash alternative of up to £3.5 billion. This bid represents a 39% premium over SEGRO’s share price on June 23, the day before the offer period commenced. Chief Executive Officer Dan Letter described the proposal as a disciplined, final effort, noting that it provides compelling value for shareholders of both companies.

While the offer is final, Prologis retains the right to improve terms only if a third party initiates a competing bid or if the Takeover Panel grants exceptional consent. Should the deal proceed, Prologis intends to explore a secondary listing on the London Stock Exchange to accommodate investor demand. SEGRO shareholders would retain approximately 8.9% of the enlarged group’s capital if the cash alternative is fully utilized. The proposal remains subject to regulatory and shareholder approval, with no guarantee that a firm offer will materialize.