Segro board U-turns on £14bn takeover bid by US rival Prologis
News Source
•Wed, 22 Jul 2026 17:32:10 GMT
📰 What Happened
The board of Segro, a UK warehouse company, reversed its position and agreed to accept a £14 billion takeover bid from US rival Prologis. Segro had rejected three earlier offers, including an initial £12.6 billion bid. But just hours before a deadline, the board said it would recommend the deal to shareholders. Prologis called it their 'best and final offer.' The deal is one of the largest foreign takeovers of a UK company. The two sides now have until August 12 to finalize the agreement.
🔍 The Backstory
Segro builds and rents out huge warehouses to companies like Amazon and Netflix. The company was originally called Slough Estates. It is listed on the FTSE 100, the London stock exchange's top index. Prologis, based in San Francisco, is the world's biggest warehouse company. The takeover is a blow to the London stock market, which has struggled to keep British companies from being bought by foreign rivals. Segro's CEO David Sleath fought hard to keep the company independent. He argued that the company had great growth potential in AI data centers and online shopping warehouses. But in the end, shareholders pushed for the deal.
🎯 Why It Matters
This is another British company falling into foreign hands. It could mean fewer jobs and less control for the UK over its own businesses. It also shows how hard it is for London to compete with bigger US markets.
The board of Segro, a UK warehouse company, reversed its position and agreed to accept a £14 billion takeover bid from US rival Prologis. Segro had rejected three earlier offers, including an initial £12.6 billion bid. But just hours before a deadline, the board said it would recommend the deal to shareholders. Prologis called it their 'best and final offer.' The deal is one of the largest foreign takeovers of a UK company. The two sides now have until August 12 to finalize the agreement.
Segro builds and rents out huge warehouses to companies like Amazon and Netflix. The company was originally called Slough Estates. It is listed on the FTSE 100, the London stock exchange's top index. Prologis, based in San Francisco, is the world's biggest warehouse company. The takeover is a blow to the London stock market, which has struggled to keep British companies from being bought by foreign rivals. Segro's CEO David Sleath fought hard to keep the company independent. He argued that the company had great growth potential in AI data centers and online shopping warehouses. But in the end, shareholders pushed for the deal.
This is another British company falling into foreign hands. It could mean fewer jobs and less control for the UK over its own businesses. It also shows how hard it is for London to compete with bigger US markets.