Shares in the financial sector edge slightly lower as Treasury yields rise and investors continue to digest last week's earnings news.
Brookfield Asset Management and Canada Pension Plan Investment Board have agreed to buy LXP Industrial Trust in an all-cash deal valued at about $5.2 billion, adding a portfolio of modern warehouse and logistics facilities to their holdings. Under the deal, which includes net debt and preferred equity, LXP Industrial shareholders will receive $61.20 a share in cash, representing a more than 12% premium to the stock's 30-day volume weighted average price, the companies said.
BlackRock is leading a debt sale targeting at least $12 billion for its massive new El Paso data-center project backed by Meta Platforms, people familiar with the matter said. The world's largest investment firm, along with its infrastructure and private-credit arms, owns an 80% stake in the Texas data-center project, while Meta Platforms, which will use the data centers, owns the other 20%. The complex is expected to have around 1 gigawatt of capacity, the people said.
Two Chinese state investment firms have deployed nearly $9 billion to prop up the stock market, after artificial-intelligence fears triggered a selloff in recent weeks. China Reform Holdings said that its unit tapped more than $7.3 billion, from the special relending facility and matching funds for share buybacks and stake increases to help stabilize the market. In a separate disclosure, China Chengtong Holdings said its subsidiaries purchased nearly $1.5 billion of Chinese equity assets.
