US real estate giant Prologis is continuing its attempts to acquire UK firm Segro, despite seeing three offers rebuffed.
Prologis made its first bid to acquire Segro in late June, making an all-share offer to acquire the entirety of Segro in a deal which would value the latter company at around £12.6 billion ($16bn).
– Prologis
In its original proposal announcement, Prologis said the deal would “unlock the significant embedded value of Segro’s development and data center pipeline in a way that Segro will not be able to do on a standalone basis.”
Segro rejected the offer, saying it “falls a long way short” of the company’s own view of its value. The company argues it is well positioned for growth without the need for Prologis – and that any acquisition would dilute the long-term upside to existing shareholders.
