Prologis said its third proposal was at a 33.8% premium to Segro stock's closing price on June 23, before the first offer was made.
Prologis has made a third takeover proposal for SEGRO PLC (LSE:SGRO), valuing the FTSE 100 warehouse landlord at approximately £13.5 billion and introducing a partial cash alternative, only for the board to reject the approach once again. The US logistics property giant's third proposal, made on 16 July and rejected the following day, comprises 0.0890 new Prologis shares for each SEGRO share, a 6% increase on its original terms.
Segro has rejected the second sweetened takeover proposal from Prologis , valuing the British warehouse landlord at £13.5 billion ($18.18 billion), the U.S. logistics giant said on Monday.
Prologis raises its 2026 outlook as record leasing, a deep land bank and accelerating data center investment signal a broader growth phase.
Prologis, Inc. remains a core holding, but I maintain a Hold rating due to valuation concerns after a 43% total return since my last Strong Buy. PLD delivered impressive Q2 results, with Core FFO per share up nearly 12% and strong diversification across customers and geographies. I'm enthusiastic about PLD's data center and power pipeline initiatives, targeting 7.5%-10% yields and leveraging its logistics platform for new growth.
Prologis, Inc. (PLD) Q2 2026 Earnings Call Transcript
Prologis tops Q2 estimates on higher rental revenues and solid leasing, reaffirms its 2026 outlook and maintains strong occupancy.
Prologis NYSE: PLD raised its full-year outlook after reporting stronger-than-expected second-quarter results, citing record leasing activity, improving logistics market fundamentals and growing opportunities in data centers and energy.
Prologis (PLD) came out with quarterly funds from operations (FFO) of $1.63 per share, beating the Zacks Consensus Estimate of $1.53 per share. This compares to FFO of $1.46 per share a year ago.
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PLD is set to report Q2 results on July 16 as investors watch whether strong leasing, rent growth and development momentum can support higher revenues and FFO.
Prologis said it remained ready to engage with Segro and urged the company's shareholders to encourage their board to enter into talks.