Prologis submitted a final $18.7 billion (£14 billion) acquisition offer for UK-based Segro. The revised bid follows three previous rejections from the industrial and data center property owner. Segro’s board indicated it would recommend the offer to shareholders if Prologis proceeds with a formal bid.
The transaction would merge two of the world's largest industrial landlords. Prologis would add 117 million square feet of primarily European logistics and data center properties to its portfolio. The deadline for a final agreement is August 12.
The deal targets growing demand for digital infrastructure driven by AI and e-commerce. This acquisition significantly expands Prologis's footprint in the European logistics and data center sectors.