Topic
prologis
Business Segro Board Unanimously Backs Prologis' Increased $18.7 Billion Takeover Bid
Segro's board agreed to back Prologis' increased £14 billion ($18.7 billion) takeover bid, with a 9.5% increase over the initial offer and a 47% premium to Segro's three-month weighted average share price. The UK Takeover Panel extended the deadline to August 12. The deal highlights growing consolidation in logistics real estate.
Business Segro Rejects Enhanced $18.2B Prologis Takeover Bid, Third Offer Rebuffed
Segro has rejected Prologis' third and enhanced takeover bid valued at £13.5 billion ($18.2 billion), representing a 6% increase over the initial all-stock proposal. The offer includes a 20% cash component and a 41% premium to Segro's three-month weighted average share price. Segro called the bid opportunistically timed, while Prologis argued its proposal provides superior value and access to a larger logistics network.
Logistics Prologis Sees Record Leasing Demand for Logistics Warehouses, Raises Full-Year Outlook
Prologis reported a strong second quarter with record lease signings of 67 million square feet and revenue of $2.43 billion, beating estimates. The company raised its full-year core FFO outlook to $6.22-$6.30 per share, driven by robust demand for logistics warehouses. U.S. net absorption hit 66 million square feet, the highest since 2022, and Prologis expects rent growth to outpace inflation in tight markets like Texas, the Southeast, the Midwest and the San Francisco Bay Area.
Logistics Prologis Raises Earnings Outlook After Record Lease Signings in Q2
Prologis (NYSE: PLD) reported Q2 revenue of $2.43B (up 11% y/y) and core FFO of $1.63 per share, both beating estimates. The company achieved record lease signings of 67M square feet and raised its full-year core FFO guidance to $6.22-$6.30 per share, signaling strong demand for logistics warehouse space.
Prologis Presses Segro After $16.6B Offer Rejected, Touts Strategic Benefits
Prologis has intensified its pursuit of Segro after the London-based logistics warehouse operator rejected a £12.6 billion ($16.6 billion) all-stock takeover bid. Prologis outlined a strategic thesis including access to its larger network and balance sheet, while Segro called the offer 'inadequate, opportunistic and one-sided.' Shares of Prologis fell 2.2%, while Segro rose 7.8%.