Segro and Prologis agree final terms on £13.5bn takeover deal

Finance Real Estate Written by: Oliver Haill 08:25 Tue 04 Aug 2026 --> Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup News Service, Gracenote... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. SEGRO PLC ( LSE:SGRO ) View Price & Profile Segro and Prologis agree final terms on £13.5bn takeover deal Published: 08:25 04 Aug 2026 BST Segro PLC (LSE:SGRO) has agreed to a £14 billion takeover by US logistics property group Prologis, bringing one of Britain's largest real estate investment trusts under American control. Under the recommended offer, investors in the FTSE 100 warehouse owner will receive 0.092 Prologis shares for each share they own. They can instead elect to receive 25% of the consideration in cash, comprising 258p and 0.069 Prologis shares. The cash element is capped at £3.5 billion and may be scaled back if demand exceeds the amount available. Based on Prologis's share price and exchange rates on 21 July, when the Segro board said last month that it was minded to accept a deal, the deal valued Segro at 1,031.7p per share, valuing the company at around £14 billion, a 39% premium to its closing price before the offer period began and a 14.4% premium to its net tangible asset value. However, the value had fallen to 998.1p per share by this week, or around £13.5 billion, because most of the consideration is linked to the Prologis share price and sterling-dollar exchange rate. Segro shareholders will also retain the 10.14p interim dividend and could receive a final dividend of up to 22.56p if it is declared before completion. The combination will create a property group with around £200 billion of assets under management and a European portfolio covering about 368 million square feet. Segro investors would own approximately 8.9% of the enlarged company. Prologis said the acquisition would be broadly neutral or slightly dilutive to earnings in the first full year after completion, assuming expected cost savings are achieved. The UK company's board unanimously recommended the deal, which requires shareholder, court and regulatory approval. Completion is expected in the first half of 2027, with Prologis planning a secondary London listing. Prologis has only secured irrevocable undertakings covering 0.245% of issued share capital, from the Segro board's personal holdings. Continue reading