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FinanceBrookfield and CPP Investments to acquire LXP Industrial Trust in $5.2B all-cash deal
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LXP Industrial Trust shares rose 3.8% in premarket trading after Brookfield Asset Management and Canada Pension Plan Investment Board announced a $5.2 billion all-cash acquisition. Shareholders will receive $61.20 per share, representing a 12.3% premium over the 30-day VWAP and a 19.8% premium over the 90-day VWAP. LXP owns approximately 53 million square feet of industrial space across 108 facilities in key U.S. Sunbelt and Midwest markets. The deal has unanimous board approval and is expected to close in Q4 2026, subject to shareholder approval. A 40-day go-shop period allows LXP to seek alternative bids until August 28, 2026. LXP will suspend dividend payments until the transaction closes, after which shares will be delisted from the NYSE.
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Fiona Craig Mon, July 20, 2026 at 7:09 AM PDT 2 min read
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Signing a contract ©Adobe Stock Images
LXP Industrial Trust (NYSE: LXP) shares gained 3.8% in premarket trading on Monday after Brookfield Asset Management (NYSE: BAM) and Canada Pension Plan Investment Board announced an agreement to acquire the industrial real estate company in an all-cash transaction valued at approximately $5.2 billion, including net debt and preferred equity.
Under the terms of the definitive merger agreement, LXP shareholders will receive $61.20 in cash for each share they own. The offer represents a 12.3% premium to the company's 30-day volume-weighted average share price and a 19.8% premium to its 90-day VWAP for the period ending July 17, 2026.
Deal Targets Major U.S. Industrial Property Portfolio
LXP owns one of the largest portfolios of modern warehouse and logistics properties in the United States, with approximately 53 million square feet of industrial space spread across 108 facilities located in key Sunbelt and Midwest markets.
The acquisition has received unanimous approval from LXP's Board of Trustees and is expected to be completed during the fourth quarter of 2026, subject to shareholder approval and the satisfaction of customary closing conditions. The agreement does not include a financing contingency.
LXP Begins Go-Shop Period Before Deal Closes
The merger agreement includes a 40-day "go-shop" period, which will remain in effect until 11:59 p.m. New York City time on August 28, 2026. During this period, LXP is permitted to actively seek and evaluate alternative acquisition proposals.
The company retains the right to terminate the agreement if it accepts a superior offer, subject to payment of a termination fee.
LXP also announced it will suspend common shareholder dividend payments until the transaction is completed or the merger agreement is terminated. Once the acquisition closes, the company's shares will be delisted from the New York Stock Exchange and LXP will operate as a privately held business.
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LXP Industrial Stock Rises on $5.2 Billion Buyout by Brookfield and CPP Investments