Segro Shareholders Might be Reluctant to Sell at Book Value

Dow Jones06-24

1039 GMT - Prologis's proposal to take over Segro at a price equal to its last reported book value might not go down well with shareholders of the U.K. warehouse landlord, Panmure Liberum's Bjorn Zietsman says in a note. "While the offer has been framed as attractive because it equates to Segro's last reported [net tangible assets], we struggle with the notion that shareholders should be expected to sell a business at book value simply because the public market has failed to recognise its potential." Segro's value lies in its ability to develop its land bank into earnings-generating assets as much as in its standing portfolio, the analyst says. Segro shares jump 17%. Prologis is little changed in U.S. premarket trading. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

June 24, 2026 06:39 ET (10:39 GMT)

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Segro shares jump 17%. Prologis is little changed in U.S. premarket trading. 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Segro shares jump 17%. Prologis is little changed in U.S. premarket trading. 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Segro shares jump 17%. Prologis is little changed in U.S. premarket trading. 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