Segro offer for Brixton approved

Industrial property giant Segro will today confirm it has received approval from the company’s board for the final terms of its takeover bid for rival Brixton Estates. The deal which will see the two companies swap 1.75 Segro shares for each Brixton share – is still subject to shareholder approval. Segro is also expected to confirm the details of a £250m share placing to fund the acquisition.