UPDATE 1-UK's Segro rejects Prologis' $18.2 billion sweetened takeover proposal

Prologis, Inc.

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July 20 (Reuters) - Segro SGRO.L has rejected the second sweetened takeover proposal from Prologis PLD.N, valuing the British warehouse landlord at £13.5 billion ($18.18 billion), the U.S. logistics giant said on Monday.

Segro's board unanimously rejected the third proposal, which valued the firm at £9.93 per share and consisted of 0.0890 new Prologis shares for each Segro share plus a partial cash alternative of up to £2.7 billion, Prologis said.

Segro first rejected the U.S. firm's £12.6 billion all-share proposal in June, saying it was "opportunistically timed" and significantly short of fair value.

Segro did not immediately respond to Reuters request for comment outside usual business hours.


($1 = 0.7427 pounds)


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