The Court Meeting and General Meeting voted in favor of the scheme of arrangement at UBS London on September 28, 2026, achieving the requisite majorities for the Prologis/SEGRO merger, with Prologis confirming the vote passed and noting that court sanction hearing is pending while integration advisory and logistics portfolio consulting are now accessible for external advisors. [1][2]
No proxy opposition or competing bid has been identified for the SEGRO acquisition by Prologis, and the total deal value is approximately £14.3 billion (approximately $19.2 billion), with SEGRO shareholders set to receive 0.0920 Prologis shares per SEGRO share plus a partial cash alternative capped at approximately £3.5 billion. [3][4][5]
The transaction is expected to become effective in the first half of 2027, with the SEGRO board unanimously recommending the acquisition and directors having given irrevocable undertakings, while the scheme requires a majority in number of shareholders present and voting representing at least 75% in value. [6][7][8]
Regulatory conditions include pending clearances from the EU Commission, UK CMA, and Italian FDI, and the deal terms specify 0.0920 new Prologis shares per SEGRO share with a 39% premium and a total value of approximately $18.8 billion, consistent with the agreed combination valued at £14.3 billion that would create the largest cross-border REIT consolidation in European history. [9][10][11][12]
Completion of the Prologis/SEGRO merger is expected in H1 2027, creating the world's largest industrial/logistics REIT platform with approximately 20% European logistics market share, and the recommended all-stock combination remains in the pre-notification regulatory phase requiring clearances from the EC, CMA (UK), Italian Golden Power, and UK NSIA. [13][14][15][16]
What to watch next includes the pending court sanction hearing following the shareholder vote, the status of regulatory clearances from the EU Commission, UK CMA, and Italian FDI, and progress toward the H1 2027 effective date, as no formal merger notifications have been publicly announced despite the transaction being in the pre-notification phase. [17][18][19][20]}