Gravis’ Norris says Prologis bid values Segro at about £14 billion

Prologis, Inc.

Prologis, Inc.

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  • Gravis Capital Management’s Matt Norris told BBC Radio 4 on July 23, 2026 a Prologis takeover of SEGRO is likely if recommended.
  • Prologis “best and final” proposal values SEGRO at about GBP 10.32 a share, implying roughly a GBP 14 billion valuation.
  • Norris said Prologis is targeting SEGRO’s logistics portfolio, urban warehouses, e-commerce assets, and data center exposure.
  • He said SEGRO’s board shifted as Prologis raised terms through four offers, citing asset value near GBP 9.05 a share.
  • Norris said SEGRO’s development pipeline could add about GBP 2.4 a share, supporting a higher valuation than earlier bids.


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