Nov 2, 4:37 PM ET
LXP Industrial Trust completed its acquisition by Brookfield Asset Management and Canada Pension Plan Investment Board in an all-cash transaction valued at approximately $5.2 billion. Common shareholders received $61.20 per share in cash, resulting in the delisting of the company's shares from the New York Stock Exchange and its transition to a privately held company.
- Common shareholders received $61.20 per share in cash upon the completion of the merger on November 2, 2026.
- The transaction values LXP at approximately $5.2 billion, including net debt and preferred equity.
- LXP requested the delisting of its common and preferred shares from the New York Stock Exchange.
Read the filing on SEC.gov ↗
Oct 19, 5:15 PM ET
LXP Industrial Trust filed supplemental disclosures to its definitive proxy statement for its pending merger with Leopard REIT LLC, which was agreed on July 19, 2026. The company said it made the additions voluntarily to reduce litigation costs and provide more information to shareholders, while denying all allegations and stating that no supplement was required. Shareholders vote at a special meeting on October 26, 2026.
- One complaint, Garfield v. Eglin (N.Y. Sup. Ct., filed October 9, 2026), seeks to block the shareholder vote and the merger until corrective disclosures are made.
- As of October 16, 2026, the company had received 14 demand letters from law firms making similar disclosure claims.
- The supplemental disclosures add revised financial advisor analysis, including updated comparable company and precedent transaction multiples from BofA Securities.
- The special meeting is scheduled for October 26, 2026, at 9:00 a.m. Eastern Time, in a virtual format.
Read the filing on SEC.gov ↗
Jul 29, 11:11 AM ET
LXP Industrial Trust reported a second-quarter 2026 net loss attributable to common shareholders of $(1.6) million, or $(0.03) per diluted share, compared with net income of $27.5 million a year earlier. The same day, it disclosed a merger agreement under which Brookfield and CPP Investments would acquire all outstanding shares for $61.20 in cash, a transaction valued at about $5.2 billion including net debt and preferred equity, and the company has suspended its common dividend.
- Merger agreed July 19, 2026: all outstanding shares to be acquired for $61.20 per share in cash; expected to close by the end of Q4 2026, subject to shareholder approval and other closing conditions.
- Q2 2026 net loss attributable to common shareholders of $(1.6) million, or $(0.03) per diluted share, versus net income of $27.5 million, or $0.47 per diluted share, in Q2 2025.
- Adjusted Company FFO of $49.5 million, or $0.84 per diluted share, up 5.0% from $0.80 a year earlier; total gross revenues of $88.1 million versus $87.7 million.
- Regular common dividend suspended effective immediately under the merger agreement; the company will no longer provide earnings guidance and will not hold an earnings call.
Read the filing on SEC.gov ↗
Jul 20, 6:53 AM ET
LXP Industrial Trust signed a merger agreement on July 19, 2026 to be acquired by Leopard REIT LLC, a vehicle of Brookfield and CPP Investments, for $61.20 per common share in cash. Exhibit 99.1 says the transaction is valued at about $5.2 billion including net debt and preferred equity, and the price is a 12.3% premium to the 30-day VWAP and 19.8% to the 90-day VWAP as of July 17, 2026. Completion requires shareholder approval and is expected in the fourth quarter of 2026.
- Merger consideration: $61.20 per common share in cash, without interest
- Go-shop period runs until 11:59 p.m. New York City time on August 28, 2026
- Termination fee of $54,122,768 if the company terminates for a superior proposal before the September 2, 2026 cut-off; $108,245,537 in certain other cases
- Company must suspend regular quarterly dividends during the merger, except those needed to maintain REIT status
Read the filing on SEC.gov ↗
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