West Palm Beach, Florida, October 26 (Reuters) – LXP Industrial Trust (New York Stock Exchange ticker: LXP, hereinafter referred to as “LXP” or “the Company”) announced today that the company’s shareholders approved at a special general meeting of shareholders held earlier in the day the transaction for LXP to be acquired by Brookfield Asset Management (New York Stock Exchange ticker: BAM, Toronto Stock Exchange ticker: BAM) and the Canadian Pension Plan Investment Board.
According to the voting results of the special general meeting of shareholders, over 99% of the votes were in favor of the merger; these votes represent approximately 82% of the ordinary shares issued as of the registration date LXP. LXP stated that the final voting results of the special general meeting of shareholders will be submitted to the U.S. Securities and Exchange Commission (SEC) in its Form 10-Q report for the quarter ending September 30, 2026, and will be disclosed after the election monitors of LXP complete their certification.
According to the merger agreement terms announced by the company on July 20, 2026, the company's common stockholders will receive $61.20 in cash for each share of LXP common stock they hold. The transaction is expected to be completed on November 2, 2026, but it is subject to meeting or being exempt from the conditions regarding delivery stipulated in the merger agreement. After the completion of the transaction, the shares of LXP will no longer be listed on the New York Stock Exchange or any other public markets.
About LXP Industrial Trust
LXP Industrial Trust (New York Stock Exchange ticker: LXP) is a publicly traded real estate investment trust (REIT) that focuses on Class A warehousing and distribution investments in 12 target markets across the Sun Belt and Midwest of the United States. LXP seeks to expand its warehousing and distribution asset portfolio through acquisitions, custom construction transactions, sale-leaseback transactions, development projects, and other transactions. For more information, please visit the LXP website: www.lxp.com.
Forward-looking Statements
Certain statements contained in this document, except for historical facts, relate to proposed transactions, including statements regarding the expected timeline for completing such transactions and the benefits that are anticipated to arise from them, as well as other non-historical statements concerning the company's future expectations, beliefs, plans, objectives, financial condition, assumptions, or future events or performance. These statements may constitute "forward-looking statements" as defined under Section 27A of the Securities Act of 1933 and Section 21E of the revised Securities Exchange Act of 1934, and are intended to be protected by the safe harbor provisions provided by those laws. These statements are based on management's current expectations and judgments and are subject to various trends and uncertainties. Forward-looking statements are not intended to be, nor should they be construed as, guarantees of future performance. You can identify forward-looking statements by words and phrases such as "may", "will", "shall", "could", "should", "expected", "intended", "estimated", "believed", "continue", "seek", "strive", and similar expressions. Forward-looking statements involve various risks and uncertainties, as well as factors that could cause actual results to differ significantly from those anticipated by the company. Therefore, reliance on forward-looking statements should be avoided, as they involve known and unknown risks, uncertainties, and other factors beyond the company's control that may have a significant impact on the company's operating results, financial condition, cash flows, performance, or future achievements or events.Factors that may affect the outcome include, but are not limited to: (i) the company's ability to complete the proposed transaction and the uncertainty regarding the timing of the transaction's settlement, including the possibility that the settlement conditions may not be met within the expected time frame or may not be met at all, or that the proposed transaction may not be completed; (ii) the outcome and related costs of any legal proceedings that may be initiated against the parties and other parties related to the merger agreement; (iii) shareholder lawsuits or other procedures related to the proposed transaction that may affect the timing or completion of the transaction, or that may result in significant defense, compensation, and liability costs; and (iv) the risk that if the proposed transaction is not completed, the company's stock price may decline significantly. Other factors include the information provided in the company's 2025 annual report filed with the SEC on February 25, 2026, under the section "1A. Business Overview," as well as the content described in the most recent 10-Q report filed on July 29, 2026, which can be found at the designated link. Except as required by law, the company has no obligation to publicly update or revise any forward-looking statements due to new information, future events, or other reasons.
Contact Information
LXP Industrial Trust For investors or media inquiries: Heather Gentry, Executive Vice President of Investor Relations; LXP Industrial Trust; Telephone: (212) 692-7200; Email: hgentry @ lxp.com
