PLD · Earnings call · 2026Q3T · Full report

Acquisition / Partnership / Divestiture

Prologis, Inc. · 2026-10-15 · Importance 75 · Surprise 60 · In source text

SEGRO shareholders overwhelmingly approved the combination with Prologis on September 28, 2026, and the transaction is proceeding through required regulatory clearances. Management expects the transaction to close in the first half of 2027 and said the combined company would have a 368 million square foot operating portfolio in Europe, expanding logistics and data-center development opportunities. Prologis raised $2.4 billion of common equity to fund an important portion of the consideration and closed approximately $1.3 billion of debt financing at an average rate just under 4%. Management said the transaction’s capitalization is largely known and certain, including the share exchange and assumed debt, but did not provide synergy or accretion details while the regulated process continues.

Key facts

Prologis increased its acquisitions guidance to $2.1 billion to $2.3 billion.
Prologis acquired $950 million of real estate during the quarter at an estimated discount to replacement cost of 20%.
On September 28, SEGRO shareholders overwhelmingly approved the combination of Prologis and SEGRO.

Impact estimates

metric	direction	stage	expected	basis
assets	positive	committed	—	Prologis increased its acquisitions guidance to $2.1 billion to $2.3 billion.
assets	positive	realized	—	Prologis acquired $950 million of real estate during the quarter at an estimated discount to replacement cost of 20%.
assets	positive	probable	—	On September 28, SEGRO shareholders overwhelmingly approved the combination of Prologis and SEGRO.