Segro's share price moved sharply higher on Wednesday following the UK REIT turned down a £12.6 billion all‑share takeover proposal from US logistics group Prologis.
The rejection sent that stock sharply up in London trading, with the move reflected across the FTSE 100 as investors reacted to the failed bid; Prologis had launched the offer earlier in the day, seeking to combine the two firms' warehouse portfolios. Analysts stated that board’s decision reflected confidence in Segro’s existing growth plan and questions over the valuation offered.