Prologis prices $2.1 billion common stock offering

Prologis said Segro’s board will recommend Prologis’ fourth takeover bid, valuing Segro’s equity at about $18.8B. The combined platform would manage about $269B in assets. Prologis expects its European footprint to rise 47% and a larger development pipeline. Deal is targeted to close in 1H 2027, pending approvals.

Prologis priced a $2.1 billion public stock offering to fund its recently accepted takeover of U.K. REIT Segro, according to the company. The Segro deal is valued at £14 billion, or about $18.8 billion. The financing and acquisition could affect Prologis’ capital structure and deal execution.

Segro agreed to a takeover by U.S. logistics firm Prologis in a deal worth up to £14.3 billion ($19.19 billion), after investor pressure. The offer is up to £10.54 per Segro share, a 42% premium to June 23. Terms include 0.0920 Prologis shares plus up to £3.5 billion cash and a possible dividend. Segro shares rose 1.4% to £9.75.

Prologis said it will proceed with its acquisition of London-listed logistics warehouse operator Segro after Segro rejected earlier bids. The deal values Segro at about $18.8B. Prologis plans a public offering of 15M shares to raise about $2.1B gross, plus an option for 2.25M more. Closing is expected in 1H 2027.

Prologis (NYSE: PLD) priced an underwritten public offering of 15,000,000 shares of common stock, expecting about $2.1 billion in gross proceeds before expenses. The offering is set to close Aug. 5, 2026. Underwriters can buy up to 2,250,000 additional shares for overallotments. Net proceeds will fund general corporate purposes, including potential acquisitions such as SEGRO plc.

Segro, the FTSE 100 warehouse developer, agreed to a £14bn takeover by US logistics property firm Prologis after rejecting three earlier approaches. The deal values Segro at 1,032p per share, with most consideration in Prologis stock plus £3.5bn cash. Prologis says it will expand its European footprint and seek a secondary London listing.