Prologis raises takeover offer for Segro to £14bn

US logistics real estate group Prologis raised its offer for Segro, the UK's largest listed commercial property company, by 9.5% on 22 July 2026 to a 'best and final' exchange ratio of 0.0920 Prologis shares per Segro share plus a cash alternative of up to £3.5bn (fixed at 1,031.7 pence per share) — a premium of around 45% to Segro's 23 June closing price. Segro's board unanimously signalled it is 'minded to recommend'; a firm intention announcement from Prologis is still outstanding, and the UK Takeover Panel extended the deadline for it to 12 August 2026. Additional sources: The Real Deal, Yahoo Finance. Update (4 August 2026): The declaration of intent has become a firm offer — Prologis and the Segro board agreed the terms of a recommended acquisition valuing Segro at around $18.8 billion. Segro shareholders receive 0.0920 new Prologis shares per Segro share, with a partial cash alternative. The combination would create a European portfolio of 368 million square feet (+47% for Prologis in Europe) with roughly $269 billion of combined assets under management; Prologis is also seeking a secondary listing on the London Stock Exchange (source: Prologis announcement via PR Newswire). Update (28 Sep 2026): Segro shareholders approved the scheme of arrangement, with 98.12% of scheme shares voted at the Court Meeting and 98.14% at the General Meeting in favour of the special resolution. Court sanction and the remaining conditions are still outstanding; completion is still expected in H1 2027 (Segro announcement, 28 Sep 2026).