Prologis, a US real estate company, rejects Segro’s response to its takeover bid after publicly disclosing an all-share offer valued at about £12.6 billion ($16.6 billion) for the FTSE 100 warehouse landlord. According to multiple reports, Prologis makes the proposal on an unsolicited basis at 925p per share and presents it as valuing Segro at roughly 25% above Segro’s market value at the close prior to the offer. Segro’s board “unequivocally” rejects the approach, saying the bid does not reflect its view of the company’s value, and proceeds with its defence against the proposal. The Financial Times reports Prologis urges Segro shareholders to press the board to engage with the offer, and some Segro investors call for improvements to the terms. Several outlets also note the deal would involve Prologis gaining exposure to Segro’s logistics and data centre assets, and that Segro and related peers see share-price moves following Prologis’ public disclosure of the bid. The dispute continues as Prologis seeks further traction with investors while Segro maintains that the offer is undervalued.