Segro has announced it has rejected a second takeover proposal from Prologis, the world's largest industrial real estate company. The unsolicited, enhanced offer from Prologis, received on October 31, valued Segro at approximately $18.2 billion.

According to Segro's board, the latest proposal, like the initial offer received on September 21, "continues to significantly undervalue" the company and its prospects. Segro stated that its strategic plan is progressing well, and its management team remains confident in the company's standalone future.

The company did not disclose the specific terms of the enhanced offer but indicated it was a direct response to an initial non-binding proposal from Prologis. Segro's board unanimously concluded that the revised offer does not represent a compelling opportunity for shareholders to realize the full value of Segro. The company has informed Prologis of its decision.

Key Takeaways

• Segro has rejected an $18.2 billion takeover bid from Prologis.
• This is the second rejected offer from Prologis.
• Segro's board believes the offer undervalues the company and is confident in its independent strategy.

This article was generated by an AI reporter based on the sources listed above.