FTSE 100 Segro ‘minded to accept’ £14bn Prologis takeover

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Segro boss David Sleath had accused Prologis of an "opportunistic" swoop Segro has said it is “minded to accept” the £14bn takeover offer tabled by US real estate giant Prologis. The FTSE 100 property...

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href=https://www.cityam.com/ftse-100-segro-minded-to-accept-14bn-prologis-takeover/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Segro boss David Sleath had accused Prologis of an \"opportunistic\" swoop Segro has said it is “minded to accept” the £14bn takeover offer tabled by US real estate giant Prologis. The FTSE 100 property...</p>\n\n<a href=\"https://www.cityam.com/ftse-100-segro-minded-to-accept-14bn-prologis-takeover/\">Source 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亿英镑收购","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FREL":0.6,"BBRE":0.6,"PLD":1.5,"SPRE":0.6,"DFAR":0.6,"REIT":0.6,"XLRE":0.6,"TRUR":0.6,"CRED":0.6,"IYR":0.6,"RWO":0.6,"AVRE":0.6,"USRT":0.6,"FLGB":1.5,"FKU":1.5,"JPRE":0.6,"FRI":0.6,"VGSR":0.6,"PSR":0.6,"RWR":0.6,"VNQ":0.6,"JRE":0.6,"ICF":0.6,"DFGR":0.6,"RITA":0.6,"DPRE":0.6,"PPTY":0.6,"GQRE":0.6,"RNTY":0.6,"ERET":0.6,"SCHH":0.6,"URE":0.6,"WTRE":0.6,"CLIM":0.6,"INDS":0.6,"IYRI":0.6,"DTRE":0.6},"content_text":"Segro boss David Sleath had accused Prologis of an \"opportunistic\" swoop Segro has said it is “minded to accept” the £14bn takeover offer tabled by US real estate giant Prologis. The FTSE 100 property firm said on Wednesday evening that its board has “unanimously concluded that the financial terms of the Fourth Proposal are at a level that it would be minded to recommend to Segro shareholders”. Segro’s update came at the eleventh hour, just five minutes before the deadline at which Prologis would have had to walk away from a deal. This deadline has now been pushed back until 12 August, meaning Prologis has until then to submit a binding offer. \n\nThe deal would exchange 0.0920 new Prologis shares for every Segro share, plus £3.5bn cash. The £10.54-per-share bid values the firm at £14bn. \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 offer constitutes a 42 per cent premium on Segro’s share price at the time Prologis tabled its first bid. This is the largest takeover premium notched by a real estate firm in the last decade.Prologis to list in LondonThis development appears to mark the end of a long-running tussle between the two real estate firms, who both traded strongly-worded barbs in an attempt to win over shareholders.In total, Wednesday’s deal was 129p, or 14 per cent, higher than the initial £12.6bn offer tabled by Prologis at the end of June.\n\nPrologis has committed to setting up a secondary listing on the London Stock Exchange once the deal is completed, saving the UK’s capital markets from another high-profile loss. The FTSE has suffered a string of private takeovers for long-serving firms in recent weeks. Most recently, facilities management firm Mitie was swept off the London Stock Exchange for £3.1bn, marking the 11th takeover worth more than £1bn to be agreed this year.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","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; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2653976493","isCrawlerRequest":true}