Prologis Issues Update On Discussion Regarding Possible Combination With SEGRO

(RTTNews) - Prologis (PLD) stated that, following submission of latest proposal, its senior representatives met with SEGRO management. Prologis said the discussion did not provide meaningful clarity regarding the matters that would enable further progress.

The SEGRO board rejected March 2024 Proposal in 72 hours. Prologis made its second proposal on 10 July 2026 which was rejected on 12 July 2026. Prologis' most recent proposal was made on 16 July 2026 and rejected on 17 July 2026. Prologis said it remains ready to engage constructively at any time in the interests of all shareholders. In accordance with Rule, Prologis is required, by not later than 5:00 pm on 22 July 2026, to either announce a firm intention to make an offer for SEGRO or announce that it does not intend to make an offer for SEGRO.

Prologis noted that its assessment of SEGRO's value is grounded in the quality of its real estate and the Group's expectations for its long-term performance. Also, Prologis believes that the SEGRO defence relies on unrealistic risk assessments and assumptions to arrive at the various NAV uplifts and earnings projections.

SEGRO shares are trading at 878.20 pence, down 2.51%.