Segro Board Recommends £14bn Prologis Takeover Bid

The board of UK warehouse landlord Segro announced on July 22, 2026, that it would recommend shareholders accept a £14 billion takeover bid from its larger US rival, Prologis. This decision represents a significant U-turn for Segro's board, which had previously been resistant to the offer. The proposed acquisition, if successful, would rank among the largest foreign takeovers of a company listed on the London Stock Exchange.

Prologis, a major player in the industrial real estate sector, submitted what it termed its "best and final offer" just hours before a regulatory deadline. Segro's board stated in a formal announcement that its members had "unanimously concluded" that the offer was in the best interests of its shareholders. This unanimous recommendation signals a shift in the board's stance and aims to secure shareholder approval for the deal.

The potential takeover highlights ongoing consolidation within the global logistics and warehousing industry. Segro, a prominent owner and developer of modern, sustainable urban and out-of-town warehousing, would significantly expand Prologis's European footprint. The deal's value underscores the substantial capital flows into real estate assets that support e-commerce and supply chain operations. The outcome of the shareholder vote will be closely watched by investors and industry analysts.