The board of Segro, a UK-based real estate and data center park operator, yesterday formally agreed to sell the company to American logistics firm Prologis.
Prologis has been eyeing Segro ever since late June, submitting four offers before finally securing the support of Segro’s board on July 22. The final offer valued the company at £14 billion ($18.8bn), a 12 percent premium on the initial offer of £12.6bn ($16.9bn).
Segro data center in Paris – Segro
The deal was finalized yesterday (August 4) and is expected to close in the first half of next year.
Current Segro shareholders are entitled to receive 0.0920 shares in Prologis for each Segro share, or a partial cash alternative equal to a quarter of the fixed price of 1,031.7 pence per Segro share.
