Prologis says combination with Segro still best route to long-term value

(Sharecast News) - Prologis said on Thursday that a combination with Segro remained the best route to maximise long-term value, as it published a new investor presentation arguing the deal would give Segro shareholders access to a larger and better-capitalised data centre platform. The US logistics property group said its power pipeline totalled 5.8GW across about 30 projects, with longer-term potential of more than 10GW.

Prologis argued that Segro's standalone strategy was constrained by capital requirements and reliance on project-level joint ventures, and urged Segro shareholders to encourage its board to engage so a binding offer could be put to them.

It said there could be no certainty that an offer would be made.

At 0947 BST, shares in Segro were down 0.07% at 864.4p.

Reporting by Josh White for Sharecast.com.

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