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Sign in Sign up for a FREE subscriptionLand & Buildings proposes $4.5b deal for LXP
Land & Buildings Investment Management, a hedge fund, has proposed a merger to acquire LXP Industrial Trust in a $16-per-share cash offer. LXP said it is reviewing the official letter. Reuters reported the proposal will have a total price of $4.5 billion.
“We expect that the board will seriously consider our proposal and meet with us promptly,” Jonathan Litt, the founder and CIO of Land & Buildings, wrote in the letter.
Last month, Lexington Realty Trust changed its name to LXP Industrial Trust.
