BUZZ-UK's Segro down after rejecting Prologis' £13.5 bln sweetened takeover proposal

Prologis, Inc.

Prologis, Inc.

PLD

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** Shares of British warehouse landlord Segro SGRO.L fall 1.5% to 884 pence

** Co rejects sweetened takeover proposal from U.S. logistics giant Prologis PLD.N, valuing SGRO at £13.5 billion ($18.17 billion)

** Proposal valued Segro at £9.93 per share, 10.7% higher than its Friday close of £8.97

** Segro ‌spurned Prologis' initial £12.6 billion proposal in June, saying it was "opportunistically timed" and significantly short of fair value. A second proposal was rejected on July 12

** YTD, stock is up ~23%


($1 = £0.7431)


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