Orange Capital Outlines Strong-arm Tactics Deployed By Global Net Lease, Inc. Board Regarding The Proposed Merger With Necessity Retail REIT
Portfolio Pulse from Benzinga Newsdesk
Orange Capital Ventures has expressed concerns over the tactics used by Global Net Lease, Inc. (GNL) regarding its proposed merger with Necessity Retail REIT (RTL). Orange Capital alleges that GNL's board is using the promise of governance enhancements as leverage to get shareholders to approve the merger. The board has reportedly refused to commit to these enhancements unless the merger is approved. Orange Capital has called for the board to commit to these changes regardless of the merger's outcome.
July 20, 2023 | 1:13 pm
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NEGATIVE IMPACT
Global Net Lease's board's alleged tactics to get shareholders to approve its merger with RTL could potentially lead to a contentious vote, which may impact the company's stock in the short term.
The allegations made by Orange Capital could potentially lead to a contentious vote on the merger, which could create uncertainty and negatively impact GNL's stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The proposed merger between RTL and GNL could be impacted by the allegations made by Orange Capital, potentially leading to a contentious vote which may affect RTL's stock in the short term.
The allegations made by Orange Capital could potentially lead to a contentious vote on the merger, which could create uncertainty and negatively impact RTL's stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100