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Evening Standard

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Holly Williams

Segro rebuffs third approach from US bidder worth £13.5bn

Segro Prologis United States

Warehouse property developer Segro has rejected a £12.6 billion takeover approach from US rival Prologis as the avalanche of overseas bids for British firms shows no sign of slowing (Alamy/PA) -

Segro’s US suitor has revealed a third takeover approach worth £13.5 billion has been rejected by the British warehouse property developer as it steps up its campaign to secure a deal.

San Francisco-based Prologis said it put forward a new cash-and-stock proposal to buy FTSE 100 firm Segro on July 16 worth £9.93 a share.

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