LONDON — UK warehouse developer Segro has agreed to a £14.3 billion ($19.2 billion) takeover by U.S. logistics property giant Prologis, marking one of Britain's biggest corporate transactions of the year.

The agreement follows months of negotiations and several rejected proposals before Segro's board accepted the latest offer. Shareholders will receive Prologis shares, while some investors will also have the option to receive part of the payment in cash.

The merger will create one of the world's largest owners of logistics and warehouse properties, strengthening both companies' positions as demand continues to grow for distribution hubs supporting e-commerce and next-generation data infrastructure. Both businesses have also been expanding investments linked to AI-powered data centres, an increasingly important growth market.

The proposed transaction comes during a strong year for UK mergers and acquisitions, reflecting renewed confidence in British assets among international investors. Analysts believe the combined business could benefit from greater scale, stronger financing capacity and wider international reach.

The deal remains subject to shareholder and regulatory approval, but it represents a significant milestone for the UK's commercial property sector. If completed, it will be one of the largest cross-border acquisitions involving a British real estate company in recent years.

Business leaders will now watch how the enlarged company invests in logistics facilities, industrial parks and digital infrastructure as global demand for modern warehouse space continues to rise.