Segro board U-turns on £14bn takeover bid by US rival Prologis
The News
The board of UK warehouse landlord Segro reversed its earlier stance and agreed to recommend a £14bn takeover bid from US rival Prologis. The board was unanimous in its recommendation, calling it the 'best and final offer'. The deal, which would be one of the largest foreign takeovers of a UK-listed company, marks a significant blow to the London stock market, which has been struggling.
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The Analysis
Intelligence Brief
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£14bn bid by US rival Prologis
The Segro board unanimously recommended shareholders accept the offer.
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Key findings
Prologis called the offer its 'best and final offer' made just hours before a deadline.
The Guardian- £14bn bid by US rival Prologis
- Board unanimously recommends acceptance
Plain English
Loaded language removed<p>UK warehouse landlord says board unanimous in recommendation to accept ‘best and final offer’ </p><p>The board of the UK warehouse landlord <a href="https://www.theguardian.com/business/segro">Segro</a> has U-turned and said it would be willing to accept a £14bn takeover by Segro’s bigger US rival, Prologis, in a deal that would be one of the largest foreign takeovers of a UK-listed…
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Claims
Prologis called the offer its 'best and final offer' made just hours before a deadline.
The GuardianThe deal would be one of the largest foreign takeovers of a UK-listed company.
OpinionThe London stock market is troubled.
OpinionThe Segro board unanimously recommended shareholders accept the offer.
The Guardian