*

Deal could trigger bidding war with Brookfield Asset

Management ( BAM )

*

All-share offer implies Tritax EuroBox ( TTAXF ) valued at

68.4p/share

*

Segro's ( SEGXF ) purchase backed by Tritax's board

(Adds detail on other potential bidder and shares in paragraphs

2-5, 9)

Sept 4 (Reuters) - British warehouse owner Segro ( SEGXF )

will buy Tritax EuroBox ( TTAXF ) in a deal valuing the

European logistics real estate firm at about 1.10 billion pounds

($1.44 billion) including debt, the companies said on Wednesday.

The deal could ignite a bidding war for Tritax EuroBox ( TTAXF ),

which has been in talks with Canada's Brookfield Asset

Management ( BAM ) about a possible deal.

Tritax's properties span seven countries in mainland

Europe, focusing on logistics and distribution supply chains,

serving clients in the manufacturing, pharmaceuticals, retail,

and e-commerce sectors.

Shares in Tritax, which have rallied more than 24% since

Brookfield's interest was made public in early June, rose

marginally on Wednesday to 66.7 pence. Segro ( SEGXF ) shares slipped

1.8%.

Segro's ( SEGXF ) planned purchase of Tritax comes as it is seeing

its UK property values increase for the first time since 2022.

The British firm said the deal would complement its existing

assets in Europe.

The all-share transaction, which has the backing of Tritax's

board, implies a deal value of about 68.4 pence per share, a

nearly 3% premium to the target's closing price on Tuesday.

Tritax shareholders would get 0.0765 new Segro ( SEGXF ) shares as

part of the deal.

The company said it had fielded interest from a number of

other parties, and believes that a deal with Segro ( SEGXF ) represented a

compelling opportunity for an immediate uplift in value for its

shareholders.

Tritax EuroBox's ( TTAXF ) shares had been struggling over the

past three years, losing nearly half of their value from an all

time high reached in 2021. The company had been exploring

strategic options in April, including a managed wind down and a

significant share buyback funded by disposals.

($1 = 0.7630 pounds)