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Prologis to buy Segro in about $18.8B deal after fourth bid

The combined portfolio would reach roughly $269B in assets under management and is expected to close in the first half of 2027, pending approvals.

Reported · Written up by our desk · REITs

Prologis, the world’s largest industrial landlord and a San Francisco-based REIT, has reached a deal to acquire rival Segro, the UK’s largest REIT, after its fourth takeover offer. The transaction values Segro’s equity at roughly $18.8 billion, and Prologis said Segro’s board will recommend the bid.

Commercial Observer reports that Prologis and Segro would combine to form a global platform with approximately $269 billion of assets under management. For the UK, the deal would end Segro’s status as the country’s largest REIT, which traces its history back more than a century.

Segro’s portfolio covers about 117 million square feet across the UK and Europe. The outlet also notes the company’s data center pipeline has helped make its assets more valuable.

The agreement is expected to close in the first half of 2027, subject to legal, regulatory, and Segro shareholder approvals. The article says the bidders had engaged in weeks of back-and-forth, with three earlier offers rejected, and that Prologis’ plan included applying for a secondary listing on the London Stock Exchange.

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