Slaughter and May is advising SEGRO on the recommended share offer by Prologis

Slaughter and May is advising SEGRO plc (“SEGRO”) on the recommended share offer by Prologis, Inc. (“Prologis”) for the entire issued and to be issued share capital of SEGRO, to be effected by means of a court-sanctioned scheme of arrangement.

Under the terms of the offer, SEGRO shareholders will be entitled to receive 0.0920 new Prologis shares for each SEGRO share. The offer also contains a partial cash alternative of up to £3,509,777,110.70 in total, representing approximately 25% of the total value of the consideration based on a fixed price of 1,031.7 pence per SEGRO share. SEGRO shareholders will also be entitled to receive and retain SEGRO’s 2026 interim dividend of up to 10.14p per share and SEGRO’s 2026 final dividend of up to 22.56p per share.

Based on relevant market data as at 21 July 2026 and assuming full take-up of the partial cash alternative, the offer values the entire issued and to be issued share capital of SEGRO at approximately £14bn.

The transaction is expected to complete in H1 2027, subject to the satisfaction of applicable conditions, including regulatory approvals.

Slaughter and May is advising SEGRO on all aspects of the offer, working closely with SEGRO’s in-house team headed by Stephanie Murton (Head of Legal and Company Secretary).