Warehouse sale could land Segro boss £23 million

By the Editorial Team · Friday, July 24, 2026

Segro’s board has indicated it may accept Prologis’s £14 billion takeover bid, potentially awarding CEO David Sleath up to £23 million from his shares and options. This deal would mark a major consolidation in the European warehouse and data center market, with Prologis expanding its global property portfolio.

The chief executive of Segro stands to receive up to £23 million if the proposed £14 billion sale of the warehouse and data center landlord to American rival Prologis proceeds. Segro’s board announced Wednesday evening that it was “minded to recommend” Prologis’s fourth bid, following the rejection of three previous offers. The Takeover Panel has allowed the parties four weeks to finalize the transaction details.

Prologis has offered £10.32 per Segro share. Should the company make a formal offer on these terms, David Sleath, who has served as Segro’s chief executive for 15 years and turned 65 in March, could realize about £23.3 million from his holdings. Sleath owned 1.06 million Segro shares and nearly 1.2 million unvested share options under a long-term incentive plan as of the end of 2025. While acquirers are not typically required to honor unvested share options, these are often paid out or incorporated into the acquiring company’s incentive programs.

Soumen Das, Segro’s former chief financial officer, holds just over 700,000 shares and approximately 280,000 unvested options, which could yield him up to £10.2 million under the proposal. Any payouts would be subject to taxation, with beneficiaries potentially paying about half in taxes.

Segro is the largest owner of warehouses and data centers in Europe, managing a portfolio valued at around £12 billion. Its holdings include the Slough trading estate, well-known from the television series "The Office." Prologis, listed on the New York Stock Exchange, manages approximately £175 billion of primarily warehouse properties across the United States, South America, Europe, and Asia. Its major clients include Amazon, Ford, and FedEx.

Management teams often stand to benefit significantly from such buyouts. Earlier this week, it was reported that Phil Bentley, chief executive of the outsourcing company Mitie, could receive about £51 million for his shares if shareholders approve its £3.1 billion sale to a private equity-backed bidder.

Segro declined to comment on the transaction, and Prologis did not respond to requests for comment.

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