Nontraded REIT Merger Announced
December 21, 2016, Updated 11:28am | by James Sprow | Blue Vault
New York, December 20, 2016 – Global Net Lease Inc. (“GNL” or the “Company”)(NYSE: GNL)and American Realty Capital Global Trust II Inc. (“Global II”) announced today that, based on the final vote tally from each company’s special meeting of stockholders held earlier today, stockholders overwhelmingly approved the merger of Global II with and into GNL. Pursuant to the terms of the merger agreement, dated August 8, 2016, GNL will acquire all of the outstanding common stock of Global II at an exchange ratio of 2.27 GNL common shares per Global II share.
Of the votes cast today at GNL’s stockholder meeting, approximately 93% were in favor of the merger transaction. In a separate vote for stockholders of Global II, the acquisition target, approximately 86% of shares voted were in favor of the merger transaction. The Company anticipates the merger will close on December 22, 2016, subject to the satisfaction of the remaining closing conditions.
The Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.