Geode Capital discloses stakes in SEGRO, Prologis and Intertek

what happened

Geode Capital Management filed mandatory Rule 8.3 disclosures under the UK Takeover Code covering three companies at once. The filings were distributed through the London Stock Exchange's RNS service, and the original information was published by SEGRO plc, Prologis, Inc and Intertek Group plc.

Geode holds 14,740,745 SEGRO ordinary shares, equal to 1.09%, and bought 10,033 of them at £9.10 on October 21. Its Prologis position is 25,283,388 common shares, or 2.67%, after buying 14,948 shares and selling 716 at $127.60 each. In Intertek, the fund owns 1,896,883 shares, or 1.23%, following a purchase of 1,248 shares at £59.20.

The documents do not say which transaction triggered the disclosures, so no conclusions about its nature can be drawn from them.

why it matters

Such forms are required when an investor holds at least 1% of a company's securities in a takeover situation. The filings rarely move share prices on their own, but they show how large institutional holders are adding to or trimming their positions.

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