UK warehouse landlord Segro rejects £12.6bn takeover offer from US rival

Segro, a prominent UK warehouse landlord, has turned down a £12.6bn takeover bid from US counterpart Prologis, asserting that the all-share proposal undervalued the company. Despite Prologis's offer being almost 25% higher than Segro’s market value, Segro's board deemed it insufficient. This decision highlights the intense competition between global logistics firms and underscores Segro's commitment to maintaining its independence and perceived value. Such moves in the warehousing sector could set a precedent for how companies navigate cross-border acquisition offers.