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 the stock sharply up in London trading, with the move reflected across the FTSE 100 as investors reacted to that failed bid; Prologis had launched that offer earlier in the day, seeking to combine the two firms' warehouse portfolios. Analysts said the board’s decision reflected confidence in Segro’s existing growth plan and questions over that valuation offered.