SEGRO (SGRO)
- Share Price:
- 960.80p
- Market Cap:
- £13,010m
- Change Today:
-
-6.80p
- Sector:
- Property Investment Trusts
Segro minded to recommend final offer from Prologis, PUSU deadline extended
By Michele Maatouk
Date: Wednesday 22 Jul 2026
LONDON (ShareCast) - (Sharecast News) - Segro announced on Wednesday that it has requested and been granted an extension to the 'put up or shut up' deadline for Prologis to make a firm offer or walk away, as it said it would be minded to recommend the US logistics giant's final approach.
Earlier on Wednesday, Prologis made a "best and final" offer of £14bn for the British landlord.
The offer was 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.
Prologis had said it would explore the feasibility of a secondary listing in London in connection with the possible merger, but Segro confirmed in its statement after the close of markets that Prologis will commit contractually to such a move.
Segro said its board had unanimously concluded that the financial terms of the fourth and final proposal are at a level that it would be minded to recommend to shareholders should a firm offer be made.
"This would be subject to the satisfactory completion of confirmatory due diligence by Prologis, and agreement on all other terms and conditions of the offer and definitive transaction documentation," it said.
As a result, Segro requested and has been granted an extension to the Takeover Panel's PUSU deadline and Prologis now has until 12 August to make an offer. The previous deadline expired at 1700 BST on Wednesday.
Segro was first approached by Prologis in 2024 but has since rejected three proposals.
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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