Recent Updates — LXP

LXP Industrial Trust filed a current report to voluntarily supplement its definitive proxy statement regarding the proposed merger with Leopard REIT LLC. The filing discloses additional financial analysis by BofA Securities, including comparable company and precedent transaction multiples, as well as discounted cash flow valuations. These disclosures were made in response to shareholder litigation challenging the merger agreement. A special meeting is scheduled for October 26, 2026, where shareholders will vote on the transaction valued at $57.25 per common share in cash. LXP Industrial Trust operates as a real estate investment trust focused on industrial properties.

LXP Industrial Trust announced a proposed all-cash merger with affiliates of Brookfield Asset Management and Canada Pension Plan Investment Board to acquire the company for $61.20 per share, valuing the transaction at approximately $5.2 billion including net debt and preferred equity. The offer represents premiums of 12.3% and 19.8% over LXP's 30-day and 90-day volume-weighted average prices, respectively. The board unanimously approved the deal, which is expected to close by the end of Q4 2026 pending shareholder approval. Concurrently, LXP reported second-quarter 2026 financial results, recording a net loss attributable to common shareholders of $(1.6) million or $(0.03) per diluted share, and Adjusted Company FFO of $49.5 million or $0.84 per diluted share. The company also suspended its regular quarterly common dividend effective immediately pursuant to the merger agreement terms. LXP Industrial Trust is a real estate investment trust focused on Class A warehouse and distribution properties.