Prologis ramps up pressure on FTSE 100 property giant Segro

cityam07-09 15:42

Segro boss David Sleath has criticised Prologis' takeover bid US real estate giant Prologis has called on shareholders in FTSE 100 rival Segro to engage with its £12.6bn takeover bid, arguing the deal...

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best path for the board of Segro,” which has sought to fight off the takeover interest in recent weeks.Segro has piled investment into data centres in recent years and claims its estate is far more valuable than that of Prologis.The FTSE 100 firm issued a strongly-worded rebuttal of the takeover bid on Wednesday, describing the 925p per share offer as “opportunistic, one-sided and inadequate”.\n\nFirms wrestle over data centre portfolioIn a presentation to Segro shareholders, Prologis claimed that it is offering the chance to “benefit from a more experienced, larger and better-capitalised data centre platform”.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe US firm said its proposal to combine the two firms into a mammoth investment trust would give Segro shareholders a “substantial upfront premium”.The deal would also support economic growth in the UK through “continued investment in strategic logistics infrastructure, strengthening supply chain resilience and creating long-term economic opportunity,” it claimed.Setting out its opposition to the takeover bid to investors on Wednesday, Segro unveiled a joint venture with a London-based data centre firm to develop a new data centre in Paris.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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