Brookfield and CPP Investments to Buy LXP Industrial for $5.2 Billion
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Peter Lynch- 0
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Brookfield Asset Management and Canada Pension Plan investment Board have agreed to buy LXP Industrial Trust LXP 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.
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