This entry is sourced from LXP's Exhibit 99.1 press release filed as part of an 8-K on July 20, 2026. The transaction is a signed definitive merger agreement unanimously approved by LXP's Board of Trustees; it had not yet closed and was expected to close in the fourth quarter of 2026, subject to LXP shareholder approval and other customary closing conditions. The agreement includes a 40-day go-shop period expiring August 28, 2026, during which LXP, with its advisors, may solicit and consider alternative acquisition proposals.
BofA Securities, Inc. is acting as lead financial advisor to LXP, with J.P. Morgan Securities LLC acting as co-financial advisor. Citigroup Global Markets Inc. and Morgan Stanley & Co. LLP are serving as financial advisors to Brookfield and CPP Investments.
Hogan Lovells Cadwalader US LLP is serving as legal advisor to LXP. Gibson, Dunn & Crutcher LLP and Thompson Hine LLP are serving as legal advisors to Brookfield and CPP Investments, with DLA Piper LLP serving as legal advisor to CPP Investments specifically on certain aspects of the transaction. Dechert LLP is acting as legal advisor to Citigroup Global Markets Inc. and Morgan Stanley & Co. LLP in their advisory capacity.
Under the terms disclosed, LXP shareholders will receive $61.20 per share in cash, representing a 12.3% premium to LXP's 30-day volume-weighted average price and a 19.8% premium to its 90-day VWAP, each measured through July 17, 2026. The transaction is not subject to a financing condition. LXP agreed to suspend common share dividend payments until the earlier of closing or termination of the agreement, and upon completion LXP will become a privately held company delisted from the NYSE.
The release does not disclose the amount of any termination fee payable if LXP accepts a superior proposal during or after the go-shop period, the specific ownership split between Brookfield and CPP Investments in the acquiring consortium, or fee arrangements for any of the six named financial and legal advisors.