SEGRO (SGRO) has accepted the improved £14bn bid from Prologis offering the warehouse developer’s shareholders 258p cash per share and 0.0690 new Prologis shares per share. That maintains the same 1,054.3p per share Prologis offered on 22 July.
Our view
Richard Williams, senior analyst at QuotedData, said: “As expected, Prologis has firmed up its offer for SEGRO, making a huge dent in the listed real estate sector with it accounting for around 20% by market value. There is certainly space for some IPOs, but that may be wishful thinking.”
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