July 22 (Reuters) – U.S. logistics firm Prologis on Wednesday offered to buy Segro for about £14 billion ($18.8 billion), or £10.32 per share in a last-minute approach ahead of a takeover deadline.
Shares in Segro rose nearly 4% to 901.2 pence by 0916 GMT.
Under the latest proposal, each Segro share will be valued at 1,031.7 pence per share, comprising 0.0920 Prologis share and a partial cash alternative of up to £3.5 billion.
“We met and engaged with Prologis over the weekend and have been clear that we would consider and engage again on a revised proposal,” a Segro spokesperson had said in a statement emailed to Reuters right before Prologis’ improved bid.
($1 = 0.7478 pounds)
(Reporting by Prerna Bedi, Pushkala Aripaka and Nithyashree R B in Bengaluru; Editing by Subhranshu Sahu)
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