Brookfield and CPP Investments to acquire LXP for $5.2 billion

• LXP Industrial Trust (NYSE:LXP) agreed to an all-cash acquisition by Brookfield Asset Management and CPP Investments for $61.20 per share.
• The LXP Industrial Trust share price traded 4.26% higher at $61.00 following the announcement of the merger agreement.
• The $5.2 billion transaction includes a 40-day go-shop period allowing LXP to solicit alternative acquisition proposals.

LXP Industrial Trust (NYSE:LXP) agreed to be acquired by a buyer group comprising Brookfield Asset Management and CPP Investments.

The all-cash transaction is valued at approximately $5.2 billion, which includes the assumption of net debt and preferred equity.

Under the terms of the definitive agreement, LXP shareholders will receive $61.20 per share in cash.

This purchase price represents a 12.3% premium to the 30-day volume-weighted average price (VWAP) and a 19.8% premium to the 90-day VWAP for the period ended July 17, 2026.

Following the announcement, LXP Industrial Trust's share price traded 4.26% higher at $61.00.

The transaction was unanimously approved by the LXP Board of Directors and is expected to close in the fourth quarter of 2026.

The completion of the deal remains subject to customary closing conditions and shareholder approval, but it is not subject to a financing condition.

The merger agreement includes a 40-day go-shop period running through August 28, 2026, permitting LXP to actively solicit alternative acquisition proposals.

In connection with the pending transaction, LXP has suspended its common share dividends until the closing or termination of the agreement.

Upon completion of the deal, LXP shares will cease trading on the New York Stock Exchange as the enterprise becomes a privately held company.