Here we go (yet) again: another opportunistic takeover bid from the US for a UK company. The fun at easyJet isn’t even over yet, but the next target is Segro, the property firm known as Slough Estates until the branding merchants decided a slicker name was needed for a portfolio that these days extends well beyond Berkshire and deep into continental Europe.
Warehouses and logistics centres stir few sentimental or patriotic feelings but Segro is the biggest commercial landlord on the London stock market. If it eventually falls to Prologis of the US, we will be asking – not for the first time – whether the UK knows how to value what’s under its own nose.
