Prologis will pay 1,032 pence per Segro share, with part in stock and about £3.5 billion in cash, and the deal will lead to a secondary London listing for the expanded Prologis group.

This latest offer follows several prior bids, with a £14 billion best-and-final proposal described earlier in the month.

Segro’s board will recommend the deal, calling the terms fair and reasonable and signaling strong support from management.

Prologis counts major customers such as Amazon, FedEx, and UPS among its key clients, underscoring the strategic value of its logistics footprint.

Investors including APG Asset Management, Norway’s sovereign wealth fund, and CCLA have pressured for fusion talks, contributing to the deal's momentum.

Segro’s European portfolio spans roughly 10.9 million square meters; both companies are expanding into data centers to meet AI-driven demand.

Daniel Letter, Prologis CEO, expresses respect for Segro and confidence that the combination will create greater value for customers and shareholders.

David Sleath, Segro CEO, emphasizes the strategic fit, highlighting Segro’s portfolio and pipeline alongside Prologis’ European presence and global scale.

Remarks from both CEOs stress value creation, complementary portfolios, and disciplined capital allocation as a result of the tie-up.

The deal represents a major overseas takeover of a UK business and reflects a broader trend of cross-border acquisitions expanding Prologis’ European footprint.

This acquisition signals ongoing overseas consolidations affecting UK companies and would broaden Prologis’ global logistics platform.

Combined, the merged entity would have a market capitalization above $152 billion based on the latest reference close.