Prologis Urges Shareholder Vote After SEGRO Board Rejects $16.21 Billion All-Stock Bid

MT Newswires Live

06/24

Prologis' (PLD) offer to acquire SEGRO for 12.3 billion UK pounds ($16.21 billion) in stock has been rejected, the company said Wednesday.

The June 16 offer would have given SEGRO shareholders 0.084 new Prologis share for each of their shares, representing a 24.6% premium over SEGRO's latest share price, the company said.

Prologis urged SEGRO shareholders to encourage its board to allow a binding offer to be put to them for a vote, the company said.

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