Brookfield and CPP Investments to Buy LXP Industrial for $5.2 Billion
By Connor Hart
Brookfield Asset Management and Canada Pension Plan Investment Board have agreed to buy LXP Industrial Trust in an all-cash deal valued at about $5.2 billion, adding a portfolio of modern warehouse and logistics facilities to their holdings.
Under the deal, which includes net debt and preferred equity, LXP Industrial shareholders will receive $61.20 a share in cash, representing a more than 12% premium to the stock's 30-day volume weighted average price, the companies said Monday.
The transaction is expected to close during the fourth quarter, at which time LXP Industrial would become a privately held company, with shares no longer trading on the New York Stock Exchange.
The agreement includes a 40-day "go-shop" period, during which time LXP Industrial may actively solicit and consider alternative acquisition proposals, the companies noted.
LXP Industrial owns a portfolio of modern warehouse and logistics facilities across the U.S., comprising approximately 53 million square feet across 108 properties in markets including the Sunbelt and Midwest.
"This transaction is the culmination of the LXP team's successful execution of our strategic plan to transform LXP into a pure-play industrial REIT, curate a best-in-class portfolio, and implement our development program," said Chief Executive Thomas Eglin Jr.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
July 20, 2026 07:05 ET (11:05 GMT)
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