Primary Health Properties in talks over private hospital portfolio JV, Segro rejects £12.6bn takeover approach from Prologis

Primary Health Properties confirmed it is in advanced talks with an unnamed investor about creating a joint venture involving its private hospital portfolio, as it explores options to enhance long-term value. The company said it is considering potential joint ventures with “highly credible” investors. Separately, Segro rejected an approach from U.S. logistics real estate firm Prologis valued at £12.6bn, according to a confirmation from Prologis. Prologis said the indicative all-share proposal, first made earlier in June, valued Segro’s issued ordinary share capital at about £12.6bn. Segro “unequivocally rejected” the offer but Prologis urged shareholders to encourage Segro’s board to engage, arguing a combined entity would offer a “compelling value proposition.” The broader market context included an expected weaker FTSE 100 open ahead of the bell and corporate items beyond the deal talks.