Segro has accepted Prologis's £14billion takeover, bringing an end to a weeks-long battle that will see another British firm taken over by a foreign firm.

The FTSE-100 listed warehouse firm said it had accepted the takeover deal, which will see Prologis pay 1032p for each share.

It represents a 39 per cent premium to Segro's closing price on June 23, the day before it went public with its interest.

Segro dropped its opposition to a US takeover at the end of last month, having rejected three earlier bids from Prologis, suggesting it was worth almost £18billion.

The US logistics firm's initial 925p per share offer valued Segro at £12.6billion, before the British warehouse giant said the 'best and final' offer of more than £14billion was acceptable.

In a statement to investors this morning, Prologis said Segro shareholders will be paid in stock, with a partial cash alternative of up to £3.5billion.

Segro is the fifth FTSE 100 firm to have agreed to a takeover this year, following laboratory testing firm Intertek, insurer Beazley, City institution Schroders, and energy firm DCC.

Other firms targeted include Easyjet, Rotork, Mitie and Tate & Lyle – fuelling fears that foreign predators are circling undervalued British firms in the hope they can buy them on the cheap.

Prologis's final proposal is still below the 1300p per share price tag put on it by commercial property experts CBRE, which valued it at close to £18billion. It was held up by Segro's board as evidence that the US firm was trying to buy it cheaply, but Prologis said the valuation was 'unrealistic'.

However, Segro's board is understood to have softened its stance after talks with investors, with some suggesting that the offer represented a good deal given geopolitical tensions.

Prologis has agreed to establish a secondary listing of its shares on the stock market in London, given that Segro will disappear from the exchange.

Segro shares rose 0.85 per cent to 969.2p, having gained 36 per cent this year.