SEGRO (SGRO)
- Share Price:
- 960.80p
- Market Cap:
- £13,010m
- Change Today:
-
-6.80p
- Sector:
- Property Investment Trusts
Prologis makes last-ditch £14bn bid for Segro as deadline looms
By Abigail Townsend
Date: Wednesday 22 Jul 2026
LONDON (ShareCast) - (Sharecast News) - Shares in Segro surged on Wednesday, after persistent suitor Prologis made a last-gasp "best and final" offer of £14bn for the British landlord.
The US logistics giant said it was now offering 0.092p new Prologis shares for each Segro share, a 9.5% hike on its first proposal made in June, with a partial cash alternative of up to £3.5bn, representing 25% of the total consideration. It also confirmed that it would explore the feasibility of a secondary listing in London in connection with the possible merger.
It has also requested Segro seeks an extension of the current 'put up or shut up' deadline, which is due to expire at 1700 BST, although it noted the offer would not be increased.
Dan Letter, chief executive, said: "There is no doubt that a combination of both companies would deliver meaningful value. We have listened to feedback from shareholders and this morning, we have improved our proposal to make a compelling offer to the Segro board. We run Prologis with discipline and this is our best and final offer."
Prologis unsuccessfully approached Segro for the first time in 2024. It launched its latest pursuit in June, but so far Segro has rebuffed three proposals, arguing that the timing is "opportunistic". It has yet to comment on the latest approach, although ahead of the announcement it told Reuters earlier on Wednesday: "We met and engaged with Prologis over the weekend and have been clear that we could consider and engage again on a revised proposal."
On Tuesday, Norge Bank Investment Management - a long-term investor in both companies - urged both parties to open talks, noting that it understood the strategic rationale behind a potential combination.
As at 1330 BST, shares in Segro had jumped 4% to 907.91p, while Prologis was down 1% in pre-market trading.
See latest RNS on Investegate
SEGRO Market Data
| Currency | UK Pounds |
| Price | 960.80p |
| Change Today | -6.80p |
| 52 Week High | 997.40p |
| 52 Week Low | 604.40p |
| Volume | 2,068,624 |
| Shares Issued | 1,354.09m |
| Market Cap | £13,010m |
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