Segro's Prologis Takeover Unlikely to Face Large Regulatory Hurdles
Dow Jones15:07
0706 GMT - Segro's takeover by U.S. peer Prologis isn't likely to face large regulatory hurdles, Berenberg analyst Tom Musson writes. The London-listed real-estate investment trust accepted the U.S. warehouse giant's latest 14 billion pound offer proposal last month, having rejected three previous attempts. "While there are some portfolio overlaps in West London and Paris, these markets are fragmented with numerous active competitors, minimizing competitive concerns, in our view," Musson says. Berenberg cuts its rating on Segro's stock to hold from buy and lowers its target price to 991 pence from 995 pence. Shares closed Monday at 951.80 pence.
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