LXP Industrial Trust, a real estate investment trust that is an owner, developer, operator, and acquirer of premium industrial properties in the U.S., announced that it had received a $4.5 billion acquisition offer from registered investment manager Land & Buildings.
LXP, previously known as Lexington Realty Trust, reported in its last annual report that it owned about 130 consolidated real estate properties with 56.1 million sq. ft. of rentable space, 93% of which was leased.
Land & Buildings offered $16 a share, which at roughly 282 million diluted outstanding shares would be about $4.5 billion. The last time LXP saw a stock price that high was on September 1, 2008, right before the market crashed.
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