COMPANIES Segro has made a takeover bid for rival industrial property group Brixton in the first sign of consolidation in the downtrodden real estate sector since the market slump began in 2007.
After a decades-long rivalry between the two companies, which own and manage very similar property portfolios, Segro has emerged as an unlikely potential saviour for Brixton, which is facing potential covenant default of certain bank facilities and bonds this summer.
