Global Net Lease and The Necessity Retail REIT Late Tuesday Announced Merger Agreement; All-Stock Transaction
Portfolio Pulse from Charles Gross
Global Net Lease Inc. (GNL) and The Necessity Retail REIT Inc. (RTL) announced a definitive merger agreement, with GNL acquiring RTL in an all-stock transaction. The combined entity will become internally managed and have an aggregate real estate asset value of approximately $9.6 billion.
May 24, 2023 | 9:40 am
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Global Net Lease (GNL) will acquire The Necessity Retail REIT (RTL) in an all-stock transaction, creating a combined entity with $9.6 billion in real estate assets.
The merger will result in a larger, internally managed company with a significant increase in real estate assets. This is likely to have a positive impact on GNL's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Necessity Retail REIT (RTL) will be acquired by Global Net Lease (GNL) in an all-stock transaction, forming a combined entity with $9.6 billion in real estate assets.
The merger will result in a larger, internally managed company with a significant increase in real estate assets. This is likely to have a positive impact on RTL's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100