Another FTSE firm is under attack from a US raider. Demand top dollar | Nils Pratley

The warehouse landlord Segro has a bright future, not least with datacentres, so there’s no reason to roll over Segro rejects £12.6bn offer from US rival Here we go (yet) again: another opportunistic takeover bid from the US for a UK company. The fun at easyJet isn’t even over yet, but the next target is Segro, the property firm known as Slough Estates until the branding merchants decided a slicker name was needed for a portfolio that these days extends well beyond Berkshire and deep into continental Europe. Warehouses and logistics centres stir few sentimental or patriotic feelings but Segro is the biggest commercial landlord on the London stock market. If it eventually falls to Prologis of the US, we will be asking – not for the first time – whether the UK knows how to value what’s under its own nose. One assumes Prologis’s approach at £12.6bn, or 925p a share, is an opening shot because it was obviously going to get a firm no – “a long way short of Segro’s own views on value,” said the target’s board. Quite: 925p is merely the per-share value of the assets, the first valuation yardstick in property-land. It is true that Segro shares were almost 25% below that price on Tuesday. I