Segro's bid to takeover Tritax EuroBox collapses after Brookfield agrees deal

The all-share woody would person valued each Tritax stock astatine 68.4p and including debt, the connection values Tritax astatine astir £1.1bn

Segro's planned acquisition of warehouse relation Tritax EuroBox has fallen through, pursuing a higher bid from Canadian plus manager Brookfield.

Despite Brookfield's past week announcement that it volition merchantability astir 470 cardinal euro (£392.5m) worthy of erstwhile Tritax spot assets to Segro, the institution confirmed connected Monday that its all-share takeover woody for Tritax, agreed upon successful aboriginal September, "has lapsed".

The FTSE 100-listed Segro, known for its absorption connected logistics warehouses, had initially agreed to bargain Tritax for astir £552m, with the all-share transaction valuing each Tritax stock astatine 68.4p and the full offer, including debt, valuing Tritax astatine astir £1.1bn.

This improvement came aft Brookfield revealed successful June its preliminary information of a currency connection for Tritax and subsequently returned past period with an improved bid, proposing a $1.44bn (£1.14bn) full woody to get Tritax.

Some analysts had predicted this could pb to a bidding war, but Brookfield's caller determination to offload a important information of Tritax EuroBox’s portfolio to Segro suggests that Segro whitethorn person stepped backmost from its effort to instrumentality implicit the full firm.