LXP Shareholders Overwhelmingly Approve $61.20 Brookfield Takeover; Close Set for Nov. 2
LXP sits 38% above its 52-week low of $44.17 on elevated volume (3.8× avg).
Summary
LXP shareholders approved the $61.20-per-share all-cash acquisition by Brookfield Asset Management and CPP Investments at today's special meeting, with more than 99% of votes cast in favor. Turnout was heavy — the votes represented roughly 82% of outstanding shares as of the record date. The deal was announced July 20, 2026, and the definitive proxy filed September 18 set today's vote; this clears the last major hurdle. Closing is expected November 2, 2026, after which LXP shares come off the NYSE. The stock at $61.11 sits just under the $61.20 deal price, so the remaining spread is a few cents — essentially a done-deal arbitrage with only closing-condition risk left. Note the October 19 8-K disclosing a shareholder suit and 14 demand letters over merger disclosures; that litigation did not derail the vote. Brookfield (BAM) is the acquirer here; LXP is the primary affected ticker.
At the time of this announcement, LXP was trading at $61.11 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $44.17 to $61.61. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.