Segro, the London-listed logistics property firm, rejects a third takeover approach from US rival Prologis valued at about £13.5bn. The offer is described as a cash-and-stock proposal that would buy Segro for roughly £9.93 per share, according to reporting that points to it being put forward on 16 July. This decision continues an escalating bid battle in which Prologis has increased its terms across successive approaches. One report notes that Prologis frames the proposal as an enhanced bid, while another highlights that the latest offer includes a partial cash alternative as part of the consideration offered to Segro shareholders. Segro’s rejection indicates the company is not prepared to accept the latest valuation and structure proposed by Prologis. No agreement on a revised price or deal terms is reported, and the next steps depend on whether Prologis makes further offers or Segro outlines an alternative strategy for the business. The dispute centers on the price and mix of cash and shares offered to Segro shareholders.