The Necessity Retail REIT Reports Expiration Of "Go-Shop" Period For Proposed Merger With Global Net Lease
Portfolio Pulse from Benzinga Newsdesk
The Necessity Retail REIT (RTL) has reported the expiration of the "Go-Shop" period for its proposed merger with Global Net Lease (GNL). Under the terms, RTL stockholders will receive 0.670 shares of GNL for each common share of RTL. No superior acquisition proposals have been made, and the transaction is expected to close in Q3 2023.
June 23, 2023 | 11:05 am
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NEUTRAL IMPACT
Global Net Lease (GNL) is set to merge with The Necessity Retail REIT (RTL) in Q3 2023. RTL stockholders will receive 0.670 shares of GNL for each common share of RTL.
The merger between GNL and RTL is expected to close in Q3 2023. As no superior acquisition proposals have been made, the deal is likely to proceed as planned. The short-term impact on GNL's stock price is neutral as the market has likely already priced in the merger.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The Necessity Retail REIT (RTL) is set to merge with Global Net Lease (GNL) in Q3 2023. RTL stockholders will receive 0.670 shares of GNL for each common share of RTL.
The merger between RTL and GNL is expected to close in Q3 2023. As no superior acquisition proposals have been made, the deal is likely to proceed as planned. The short-term impact on RTL's stock price is neutral as the market has likely already priced in the merger.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100