Brookfield and CPP strike $5.2 billion deal for LXP Industrial
Brookfield Asset Management and CPP Investments agreed to buy LXP Industrial Trust for about $5.2 billion in cash. The deal offers LXP holders $61.20 a share, includes a 40-day go-shop period and would take the industrial REIT private.
Brookfield and CPP Investments to Acquire LXP Industrial Trust in $5.2 Billion All-Cash Deal
Brookfield, CPP Investments to buy LXP Trust for $5.2B cash (LXP:NYSE)
Brookfield, CPP Investments to acquire LXP Industrial for $5.2B By Investing.com
Brookfield, CPP Investments Agree to Acquire LXP in $5.2 Billion Deal
LXP Industrial Trust to Be Acquired for $5.2B | LXP Stock News
Brookfield Asset Management and Canada Pension Plan Investment Board agreed to buy LXP Industrial Trust in an all-cash transaction valued at about $5.2 billion, including net debt and preferred equity, adding another large warehouse owner to private hands as investors keep hunting for logistics real estate exposure. LXP shareholders would receive $61.20 a share in cash under the definitive merger agreement announced Monday. stocktitan
The price represents a 12.3% premium to LXP’s 30-day volume-weighted average price and a 19.8% premium to its 90-day VWAP through July 17. LXP’s board unanimously approved the deal, which is expected to close in the fourth quarter of 2026 if shareholders approve it and other customary conditions are met. The companies said the agreement is not subject to a financing condition. marketscreener
The target is a pure-play industrial REIT with about 53 million square feet across 108 warehouse and logistics properties in U.S. Sunbelt and Midwest markets. Brookfield Real Estate CEO Lowell Baron said the portfolio fits the firm’s preference for real estate with durable cash flows, while CPP Investments pointed to demand tied to domestic manufacturing, shifting supply chains and Sunbelt population growth. quiverquant
The agreement still leaves room for a higher bidder. LXP has a 40-day “go-shop” period, expiring Aug. 28, during which it may solicit and consider alternative acquisition proposals, subject to the buyer group’s rights and a termination fee if LXP accepts a superior proposal. LXP also agreed to suspend common-share dividends until the deal closes or the merger agreement is terminated. investing +1
For public REIT investors, the trade-off is straightforward: a defined cash exit at a premium, but less exposure to a logistics portfolio that buyers with permanent capital still view as attractive. If the transaction closes, LXP shares will stop trading on the New York Stock Exchange and the company will become privately held. stocktitan +1
6 sources
quiverquant
Brookfield and CPP Investments to Acquire LXP Industrial Trust in $5.2 Billion All-Cash Deal
Brookfield and CPP Investments to acquire LXP Industrial Trust for $61.20 per share, totaling approximately $5.2 billion.
seekingalpha
Brookfield, CPP Investments to buy LXP Trust for $5.2B cash (LXP:NYSE)
Brookfield BAM and CPP to acquire LXP Industrial Trust for $5.2B all-cash at $61.20/share, a 12% premium.
ca.investing
Brookfield, CPP Investments to acquire LXP Industrial for $5.2B By Investing.com
Brookfield Asset Management and CPP Investments announced the LXP acquisition.
marketscreener
Brookfield, CPP Investments Agree to Acquire LXP in $5.2 Billion Deal
MarketScreener reported the agreement and premarket LXP move.
stocktitan
LXP Industrial Trust to Be Acquired for $5.2B | LXP Stock News
Shareholders would receive $61.20 in cash; the deal includes a 40-day go-shop and suspended common dividends.
manilatimes
Brookfield and CPP Investments to Acquire LXP Industrial Trust in $5.2 Billion All-Cash Transaction
The GlobeNewswire release says the deal values LXP at about $5.2 billion, including net debt and preferred equity.