Prologis says Segro board open to recommending merger proposal

Prologis, Inc. (NYSE: PLD) said the board of SEGRO plc has unanimously concluded that the financial terms of Prologis's "Best and Final Proposal" are at a level it would be minded to recommend to SEGRO shareholders.

The SEGRO board extended the "put-up or shut-up" deadline under Rule 2.6(c) of the City Code on Takeovers and Mergers to no later than 5:00 pm BST on August 12, 2026, allowing additional time for the two parties to work toward a formal agreement.

Prologis stated that its Best and Final Proposal is final and will not be increased, except in the event that a third-party offer for SEGRO is announced or the Takeover Panel provides its consent.

No firm offer has been made, and Prologis noted there can be no certainty that an offer for SEGRO will be made. The announcement falls under Rule 2.4 of the Code and does not constitute a firm intention to make an offer under Rule 2.7.

Rothschild & Co, J.P. Morgan, Eastdil Secured, and BofA Securities are acting as financial advisers to Prologis. Linklaters LLP is serving as legal adviser.

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