Segro dismissed a £12.6 bn all‑share bid from U.S. REIT Prologis, rejecting the offer on June 23. The proposal, submitted on June 16, valued each Segro share at 925 p, a 24.6 % premium over the 742 p closing price. Prologis said its global reach could unlock Segro’s pipeline value.

Prologis, the world’s largest REIT with a market cap of $140.9 bn, framed the deal as a chance to leverage its balance‑sheet strength and diversified capital base. It urged Segro shareholders to push the board toward engagement, citing potential upside from synergy between data‑centre assets and its global platform for growth.

The rejection follows a wave of U.S. buy‑out attempts targeting London property assets. Earlier this week EasyJet rebuffed a £4.7 bn offer from Castlelake, and Prologis’ bid adds to a competitive landscape where foreign bidders seek value in UK infrastructure. Segro’s decision signals a cautious stance on cross‑border deals for investors.

Investors will gauge how the refusal impacts Segro’s valuation and future capital‑raising plans. A 24.6 % premium was deemed insufficient, suggesting the market values Segro’s assets higher than Prologis projected. The outcome may prompt other U.K. firms to reassess foreign takeover offers amid a tightening regulatory climate for shareholders and investors.