Segro board U-turns on £14bn takeover bid by US rival Prologis
UK warehouse landlord says board unanimous in recommendation to accept ‘best and final offer’ The board of the UK warehouse landlord Segro has U-turned and said it would be willing to accept a £14bn takeover by Segro’s bigger US rival, Prologis, in a deal...
Segro’s board has reversed course and said it would be prepared to back a £14bn takeover approach from its larger US rival Prologis, in what would rank among the biggest foreign takeovers of a UK-listed company.
In a statement reported through a monitored public feed, the UK warehouse landlord said its directors had “unanimously concluded” they would recommend shareholders accept what Prologis described as its “best and final offer”. The bid was put forward just hours before a deadline, according to the feed summary.
The change of position marks a notable shift for Segro, which owns and manages warehouse and logistics property across the UK and other markets. The proposed transaction would also add to concerns about the appeal of London-listed companies to overseas buyers, coming at a difficult time for the UK stock market.
Prologis, based in the US, is the larger of the two industrial property groups and has made repeated headlines in recent years as logistics real estate has remained a focus for investors. The latest approach appears to have persuaded Segro’s board after what the company described as its final consideration of the terms on offer.
The size of the proposed deal would make it one of the most significant cross-border takeovers involving a UK-listed firm. The board’s decision to recommend the offer gives the proposal a major boost, though any transaction would still depend on shareholder approval and the usual regulatory and deal-process steps.
For London markets, the development adds to a growing sense of pressure as prominent companies attract interest from international buyers. The move also reflects the continued strategic value of warehouse and distribution assets, especially as logistics infrastructure remains central to retail and supply-chain operations.
This article is based on a monitored public feed and attributed to The Guardian Business. It has been prepared from the available feed metadata only. Source: The Guardian Business - https://www.theguardian.com/business/2026/jul/22/segro-board-u-turn-14bn-takeover-bid-us-rival-prologis
