SEGRO (LON:SGRO) shares: Prologis (NYSE:PLD) paper offer just above market price
SEGRO plc ended Monday as more of a speculative takeover trade, without the usual takeover premium. Hargreaves Lansdown showed the shares at 869.4p/869.8p after the London session, off 1.14%. Reuters reported the FTSE 100 slipped 0.3%. Based on Prologis Inc’s $140.20 share price in New York, GBP/USD close to $1.339 and a 0.084 exchange ratio, the rejected offer worked out to about 880p for each SEGRO share. That’s just about 1.1% over SEGRO’s midpoint on Monday. Back on June 24, when Prologis was at $145.30 and GBP/USD traded at $1.32, the same math got you 925p.