SEGRO Shares Surge After Prologis Takeover Approach Revealed

Shares in SEGRO plc (LON: SGRO) surged sharply on Wednesday after US logistics giant Prologis, Inc. went public with an unsolicited all-share takeover proposal valuing the British warehouse specialist at approximately £12.6 billion.

SGRO stock opened at 886p, jumping as much as 20% from Tuesday’s close of 742p, before settling around 853p — a gain of roughly 15% — as markets digested the news.

Prologis, the world’s largest logistics REIT with a market capitalisation of $140.9 billion, disclosed that it had privately approached SEGRO’s board on 16 June with an indicative offer of 0.084 new Prologis shares for each SEGRO share, implying a value of 925 pence per share.

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That represents a premium of 24.6% to SEGRO’s closing price on Tuesday and equals the company’s last reported EPRA net tangible asset value per share as of 31 December 2025.

However, SEGRO’s board swiftly and unanimously rejected the proposal, branding it “opportunistically timed” and insisting it “falls a long way short” of the company’s own assessment of its value.

The board argued that SEGRO’s share price has been artificially suppressed by geopolitical headwinds that have disproportionately hit UK and European real estate valuations relative to their US counterparts.

Prologis, undeterred, appealed directly to SEGRO shareholders to pressure the board into engaging, citing superior balance sheet strength, a global capital platform, and the ability to accelerate SEGRO’s data centre and development pipeline.

Under UK Takeover Code rules, Prologis must either announce a firm offer or walk away by 22 July 2026.