Prologis bids for SEGRO
Prologis, the San Francisco-based logistics real estate group, has made an all-share takeover proposal for UK warehouse landlord SEGRO, valuing the London-listed company at about £12.6 billion ($16.6 billion). Prologis wrote to SEGRO's board on 16 June offering 0.084 new Prologis shares for each SEGRO share, equivalent to a roughly 25 per cent premium to SEGRO’s prior closing price. SEGRO rejected the approach on 23 June; if completed, its shareholders would own about 10.5 per cent of the enlarged group.
Neither firm depends on life sciences, but both have meaningful exposure to the sector. Seven deals plotted across the UK, Germany and France — from Cambridge science parks to urban distribution hubs near Berlin and logistics serving Paris's Île-de-France — show the pair assembling specialised footprints in lab, research and medical product distribution. Their occupiers span biotechnology and pharmaceutical companies, NHS trusts and other public-health bodies, and specialist healthcare and pharma logistics distributors.
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