Segro board U-turns on £14bn takeover bid by US rival Prologis

UK warehouse landlord says board unanimous in recommendation to accept ‘best and final offer’

The board of the UK warehouse landlord Segro has U-turned and said it would be willing to accept a £14bn takeover by Segro’s bigger US rival, Prologis, in a deal that would be one of the largest foreign takeovers of a UK-listed company.

In the latest blow to the troubled London stock market, Segro said in a statement that its board had “unanimously concluded” it would recommend its shareholders accept what Prologis called its “best and final offer”, made just hours before a deadline.
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