Key facts
- Prologis has made a £12.6bn takeover bid for FTSE 100 rival Segro.
- Prologis claims its offer provides a substantial upfront premium and access to a larger data center platform.
- Segro has rejected the bid, calling it opportunistic, one-sided, and inadequate.
- Segro has invested heavily in data centers and formed a joint venture for a Paris data center.
- The offer represents a nearly 25% premium on Segro's closing share price at the time of the bid.
US real estate giant Prologis has intensified its pressure on FTSE 100 rival Segro, urging shareholders to engage with its £12.6bn takeover bid. Prologis argues the offer provides a "substantial upfront premium" and access to a larger, more experienced data center platform, which it claims would benefit Segro shareholders.
Segro, however, has strongly rebuffed the proposal, describing the 925p per share offer as "opportunistic, one-sided and inadequate." The UK property firm has emphasized its own significant investments in data centers and recently announced a joint venture to develop a new data center in Paris. Segro contends that Prologis' bid seeks to exploit its share price decline, which it attributes partly to the Iran war.
Prologis has criticized Segro's reliance on joint ventures, suggesting it leads to the "give away" of significant value. Segro, in turn, has highlighted its strong financial performance, reporting £53 million in new headline rent in the first half of 2026, an increase from £31 million the previous year. Despite the takeover battle, Segro's shares saw a slight increase of 0.2% on Thursday, remaining up 21% year-to-date.