RTL - Activist Blackwells said to start proxy battles at Global Net Lease Necessity Retail
- Activist fund Blackwells Capital is said to have started two different proxy fights at Global Net Lease ( NYSE: GNL ) and Necessity Retail ( NASDAQ: RTL ) and wants the REITS to oust their outside manager.
- Blackwells has nominated the same two director candidates at the companies and wants the REITs to evaluate possibly selling themselves, according a Reuters report, which cited people familiar. The investor also wants to nominate two more directors at both companies in 2024.
- Blackwells is trying to get both firms to replace AR Global, the company that owns and operates properties on behalf of others, according to the report. GNL has a market cap of $1.13 billion, while RTL is valued at $837 million.
- Necessity Retail ( RTL ) is scheduled to report Q3 results next Wednesd ay and Global Net Lease ( GNL ) will report next Thursday.
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Activist Blackwells said to start proxy battles at Global Net Lease, Necessity Retail