London loses again: FTSE 100 landlord Segro will be missed
The loss of Segro to a US firm denudes London’s real estate sector and is another step in the hollowing-out of the UK stock market For a few hours on Wednesday, it seemed possible we were about to witness a rare stock market event: a FTSE 100 company holding...
London’s listed property sector took another hit on Wednesday as FTSE 100 landlord Segro moved closer to an agreed sale to US-based Prologis, in a deal that would remove one of the City’s better-known real estate names from the London market.
According to a monitored public feed based on reporting by *The Guardian Business*, Segro said it was “minded to recommend” a “best and final” offer from Prologis valuing the company at £14bn, or £10.32 a share. The bid followed a period in which Segro had been resisting pressure from the American buyer, with the final decision coming just minutes before a deadline.
Segro, long associated with its former name Slough Estates, has been part of the FTSE 100 and is widely known for its warehouse and logistics property portfolio. The prospective deal underlines how a major London-listed company can end up in foreign hands, adding to concerns about the shrinking size and influence of the UK stock market.
The agreement is not yet final. The two companies now have until 12 August to reach a firm deal. But the tone of Segro’s statement suggests the company has shifted from defence to acceptance, after previously facing both an unsolicited approach and disagreement from some of its larger shareholders.
If completed, the transaction would mark another significant departure from the London market and a notable loss for the UK real estate sector. Segro’s exit would also reinforce a wider pattern in which internationally active buyers continue to look at established British listed companies as takeover targets.
The report is based on a monitored public feed from *The Guardian Business*.
Source: The Guardian Business - https://www.theguardian.com/business/nils-pratley-on-finance/2026/jul/22/london-loses-again-ftse-100-landlord-segro-will-be-missed
