M&A · Financials · Real Estate Investment Trusts
Brookfield and CPP Investments to acquire LXP Industrial Trust
Announced Jul 20, 2026 · Closed Nov 2, 2026
Deal value$5.20BEV $4.83B
Premium4.6%To unaffected price
EV / Adj. EBITDA—13.9x EV / Revenue
ConsiderationAll cash$61.20 per share
Transaction
- Acquirer
- Brookfield and CPP Investments
- Target
- LXP Industrial Trust (LXP)
- Buyer type
- Private equity
- Offer price per share
- $61.20
- Enterprise value
- $4.83B
- Status
- Closed Nov 2, 2026
Deal protections
- Break fee (target pays)
- $108M · 2.1%
- Reverse fee (buyer pays)
- $289M · 5.6%
- Go-shop
- Go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Citigroup, Morgan Stanley, Goldman Sachs, Santander, Scotiabank
- To the target
- BofA Securities, JPMorgan
Sector context · Financials
- Comparable deals
- 76 in the prior 24 months
- Premium
- 4.6% vs. 34.0% sector median
- EV / Adj. EBITDA
- Sector median 13.7x
- Break fee
- 2.1% vs. 3.8% sector median
Timeline
- AnnouncedJul 20, 2026
- Proxy filedSep 4, 2026
- Definitive proxySep 18, 2026
- Shareholder vote—
- ClosedNov 2, 2026
Valuation · fairness opinions
Trading comparables$49.42$72.47
Trading comparables$54.28$72.71
Trading comparables$46.68$73.04
Discounted cash flow$49.25$65.73
Analyst price targets$51.03$61.97
Offer $61.20
Implied value per LXP Industrial Trust share by analysis, from BofA Securities · DCF discount rate 8.1%–9.2%.