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Update on the Prologis and SEGRO Merger Discussions

In a significant development regarding the potential merger between Prologis, Inc. and SEGRO plc, Prologis has welcomed the recent decision made by SEGRO's board. Earlier today, SEGRO's board unanimously acknowledged that the financial terms of what has been termed as Prologis' 'Best and Final Proposal' merit serious consideration to possibly recommend to SEGRO's shareholders. Furthermore, they have decided to extend the deadline for decisions regarding this proposal to 5:00 PM BST on August 12, 2026.

Prologis has indicated that their approach is aimed at fostering a positive and constructive dialogue throughout this process. The proposed merger is being portrayed as a remarkable opportunity that could significantly benefit shareholders from both companies. In light of this extension, Prologis looks forward to collaborating closely with SEGRO’s board to achieve an outcome that maximizes value for all stakeholders involved.

It is crucial to understand that while the new deadline allows for further discussions, there is still no guarantee that a formal offer will indeed be made. Prologis has emphasized the need for ongoing communication and promises to keep stakeholders informed as the situation unfolds. A further announcement will be forthcoming as necessary.

The 'Best and Final Proposal' signifies Prologis' final offer regarding the merger and will remain unchanged unless specific conditions arise, such as new competitive offers coming forward from other entities or if the Takeover Panel grants consent under exceptional circumstances. Prologis has made it clear that they retain the right to modify their proposal contingent on external developments.

Legal advisories have been provided by Linklaters LLP, underlining the significance of this transaction within the investment community. To manage this transition effectively, several financial institutions including N.M. Rothschild & Sons Limited and J.P. Morgan Securities LLC have been retained to ensure that all legalities and financial advisories are carefully adhered to.

Any potential transaction of this magnitude is inherently complex and mixed with possibilities and uncertainties. Factors such as shareholder approvals, financial market conditions, and local economic climates will play pivotal roles in shaping the outcome of these discussions. Given the deliberative nature of merger and acquisition scenarios, both Prologis and SEGRO are navigating towards a concluding decision that satisfies their respective shareholders and stakeholders.

As these talks advance, one key sentiment from Prologis remains clear: the ambition to realize an efficient merger process that aligns the interests of stakeholders. This pursuit continues amidst a backdrop of economic variables, competition, and operational considerations that could influence the eventual outcome. The business landscape remains dynamic, and any updates surrounding this merger will be closely monitored and reported by industry experts.

In conclusion, the merger discussions between Prologis and SEGRO are at a crucial juncture, setting the stage for what could potentially reshape the market landscape for both entities. Stakeholders are advised to remain vigilant and supportive as developments arise in the coming weeks.