Prologis slips after launching about $2 bln stock offering for Segro acquisition

British warehouse landlord Segro (SGRO.L) on Tuesday accepted a $19 billion takeover offer by PLD after investor pressure.

San Francisco, California-based PLD has about 933.1 million shares outstanding for a market cap of nearly $135 billion. The shares were up 13% year to date through Monday's close.

Shares of logistics REIT Prologis (PLD.N) fell 2.8% in premarket trading to $140.06 as it looks to raise equity for acquisitions.

PLD kicked off a 15,000,000 share offering, which equates to roughly $2.1 billion at current levels. JPMorgan and BofA are joint bookrunners.

The company said it intends to use the net offering proceeds for general purposes, including to fund potential acquisitions such as Segro plc. It added there is no assurance it will complete the Segro combination on the proposed terms or anticipated timeline, or at all.