Prologis (PLD) said Monday it presented a third acquisition proposal to purchase all outstanding shares of Segro.

Under the latest bid, which follows two prior bids that were rejected, the stock exchange ratio was increased by 6% to 0.0890 new Prologis shares for each Segro share and includes a new cash alternative totaling up to 2.7 billion British Pounds ($3.64 billion), the company said.

The latest proposal values Segro at about 13.5 billion pounds, Prologis said.