Key facts
- Segro has rejected a takeover bid from Prologis.
- The takeover bid was valued at £12.6 billion.
- Segro described the bid as 'opportunistic, one-sided and inadequate.'
- Segro's CEO David Sleath stated the bid undervalues the company's portfolio.
- Segro's portfolio includes data centre and logistics assets.
Segro, a prominent real estate investment trust, has firmly rejected a takeover offer valued at £12.6 billion from its US competitor, Prologis. The company's board described the bid as "opportunistic, one-sided and inadequate," indicating a strong belief that the offer does not reflect the true value of Segro's assets. David Sleath, the CEO of Segro, specifically highlighted that the bid undervalues the company's substantial portfolio, which includes significant holdings in data centres and logistics facilities. Prologis, a leading global owner, operator, and developer of industrial real estate, had reportedly made the unsolicited offer. The rejection signals Segro's intent to remain independent or to seek a significantly higher offer if negotiations were to continue. The company's strong stance suggests confidence in its current valuation and future prospects, particularly within the growing sectors of data storage and supply chain infrastructure.