0928 GMT - Prologis's unsolicited bid for U.K. rival Segro, and the target's robust rejection, have a battleground of hidden value in data centers, Jefferies analysts say in a research note. The U.S. warehouse giant sees in Segro an owner of one of Europe's largest banks of land with access to power for data centers, Jefferies says. Meanwhile, Segro argues that its differentiated pipeline and platform support a higher value over the medium term, the analysts say. Segro's defense of its status as a standalone company is credible, but raises the question of the discount between its market value and the book value of its assets, they add. Prologis's counterargument is that its approach isn't opportunistic, but a way to unlock value the market isn't recognizing as part of a global platform, according to Jefferies. Segro shares rise 1.4%. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

June 25, 2026 05:28 ET (09:28 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.