British warehouse operator Segro has agreed to a £14 billion takeover offer from the American logistics real estate firm Prologis, according to a company announcement on Wednesday. The FTSE 100-listed company had previously turned down three bids from Prologis before accepting what was described as the "best and final" offer.

Under the terms of the deal, Prologis will pay 1,032 pence per Segro share, a combination of mostly stock alongside a £3.5 billion cash component. The transaction is structured to create one of the largest global logistics real estate platforms.

Following completion, the combined entity aims to pursue a secondary listing on the London Stock Exchange, maintaining a market presence in the UK even as its headquarters remain in the United States. The move is expected to enhance Prologis’s footprint in the European industrial property market, complementing its extensive portfolio in North America and Asia.

Segro’s board, after reviewing the financial and strategic merits of the proposal, said the offer represented a compelling opportunity for shareholders to realize value and benefit from the combined group's scale and growth prospects.

The deal marks one of the largest consolidation transactions in the logistics real estate sector to date, reflecting growing investor appetite for warehouses and distribution centers amid sustained expansion in e-commerce and supply chain infrastructure.

Regulatory approvals and customary closing conditions remain pending, with both companies anticipating completion pending these clearances within the coming months. Shareholders will be invited to vote on the offer in due course.