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Prologis tables $18.8 billion takeover proposal for UK's Segro

· · 1 min read
FILE PHOTO: View of the Prologis warehouse in Nieuwegein, Netherlands
FILE PHOTO: View of the Prologis warehouse in Nieuwegein, Netherlands in this undated handout obtained by Reuters on November 30, 2020. Courtesy of Prologis/Handout via REUTERS/File Photo

July 22 (Reuters) - U.S. logistics firm Prologis on Wednesday offered to buy Segro for about £14 billion ($18.8 billion), or £10.32 per share in a last-minute approach ahead of a takeover deadline. Shares in Segro rose nearly 4% to 901.2 pence by 0916 GMT. Under the latest proposal, each Segro share will be valued at 1,031.7 pence per share, comprising 0.0920 Prologis share and a partial cash

July 22 (Reuters) - U.S. logistics firm Prologis on Wednesday offered to buy Segro for about £14 billion ($18.8 billion), or £10.32 per share in a last-minute approach ahead of a takeover deadline.

Shares in Segro rose nearly 4% to 901.2 pence by 0916 GMT.

Under the latest proposal, each Segro share will be valued at 1,031.7 pence per share, comprising 0.0920 Prologis share and a partial cash alternative of up to £3.5 billion.

"We met and engaged with Prologis over the weekend and have been clear that we would consider and engage again on a revised proposal," a Segro spokesperson had said in a statement emailed to Reuters right before Prologis' improved bid.

($1 = 0.7478 pounds)

(Reporting by Prerna Bedi, Pushkala Aripaka and Nithyashree R B in Bengaluru; Editing by Subhranshu Sahu)

Tags: Money Fortune 500 Business Money

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