Anglo-Swiss commodities giant; leading trader and miner
Prologis has made an all-share approach worth 925p a Segro share, valuing Segro at about 3.6bn. Segro’s board has rejected the bid as “a long way short” of value, arguing the US bid undervalues the business. Shares have rallied on the news, while broader property stocks are buoyed by falling gilt yields and hopes of cheaper financing.
AstraZeneca has announced that Wainua, its gene-silencer drug for transthyretin-mediated amyloid cardiomyopathy, did not meet its primary endpoint in a phase 3 trial. The news triggers a sharp stock drop and prompts investors to rethink the company’s long-term growth targets and the strength of its pipeline.
Beard and Gibson face charges of conspiring to make corrupt payments to government and state-owned oil officials in Nigeria, Cameroon and the Ivory Coast. The six former Glencore traders deny the allegations as their trial approaches. The case follows a 2024 verdict against Javier Aguilar for corruption at a major trading house.