LXP Industrial Trust to be acquired by Brookfield and CPP Investments for $61.20 a share
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.
Key points
- 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
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:07 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 20, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.