Brookfield, CPP Investments to acquire LXP Industrial for $5.2 billion

LXP LXP Industrial Trust

$61.18 0.00%

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BAM +2.32% UTZ 0.00%

1. 1Brookfield Asset Management (BAM) and the Canada Pension Plan Investment Board have agreed to acquire LXP Industrial Trust (LXP) for approximately $5.2 billion in all cash
2. 2LXP shareholders will receive $61.20 per share in cash, representing a 12.3% premium over the 30-day volume-weighted average price and a 19.8% premium over the 90-day average
3. 3The deal has received unanimous board approval, is expected to close in the fourth quarter, and will be subject to a 40-day go-shop period through August 28 during which other acquisition proposals may be considered

Source The Wall Street Journal +10 · View original ↗

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