Global Net Lease closed its $3.1 billion acquisition of ARC Global Trust II Inc., two days after shareholders of both companies approved the deal in separate meetings.
Pursuant to the terms of the merger, Lee Elman, a former independent director for ARC Global Trust II, was named a director of Global Net Lease's board, effective immediately. There are now four independent directors on Global Net Lease's board.
In connection with the merger, Global Net Lease does not plan to use its bridge loan facility.
The combined entity will continue to trade under the ticker GNL.