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Prologis moves to buy Segro in a $19B deal after rejecting bid
The planned acquisition would combine Prologis, with $240B in assets, with Segro into a larger European logistics platform as Prologis also plans up to $87B in data center construction over the next few years.
Prologis is set to buy Segro in a $19B deal, absorbing its largest European logistics rival, after an earlier attempt to purchase Segro was rebuffed in March 2024 by the British company, which described Prologis’ bid as opportunistic and inadequate.
The deal is presented as evidence of Prologis’ long running acquisition track record and strategy, including patience and analysis that have helped it consistently complete large purchases, with the outlet noting Prologis has spent more than $75B on big corporate acquisitions over the past decade.
Prologis, a San Francisco based logistics real estate owner and developer, is described as operating an industrial footprint totaling 1.3B square feet, leasing an average of 1M square feet per day, and tied to goods representing about 3% of global GDP flowing through its warehouses. The company also plans to spend as much as $87B on data center construction over the next few years.
Bisnow also highlights Prologis’ expansion beyond core logistics into areas like renewable energy generation and storage, and electric vehicle charging, while tracing the modern company to a merger of AMB and Security Income Capital, which both experienced major share price declines as much as 90% during the 2008 Global Financial Crisis.