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Announced

Global Net Lease to merge with The Necessity Retail REIT in a $375m deal.

Financials

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Transaction Value£302m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium35%
One Off Charge-

Tags

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Majority

Public

Domestic

Single Bidder

Acquisition

real estate

United States

REIT company

Residential REITs

Merger

Friendly

Pending

Synopsis

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Global Net Lease, a publicly traded real estate investment trust, agreed to merge with The Necessity Retail REIT, a preeminent publicly traded real estate investment trust, in a $375m deal. "The merger of Global Net Lease and The Necessity Retail REIT is an exceptional opportunity to build a premier global net lease portfolio with very attractive future prospects. GNL Post-closing's enhanced corporate governance is highlighted by a majority-independent, declassified Board, as well as other enhancements that we are proud to institute. Combined with the internalization of management, we are realizing significant cost savings to our stockholders. I am honored to have the opportunity to lead an experienced and diverse group that is dedicated to building the long-term value of GNL," Sue Perrotty, GNL Chair of the Board of Directors.

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