Shareholders at Global Net Lease and ARC Global Trust II Inc. approved the two companies' combination in separate Dec. 20 meetings.

Global Net Lease agreed in August to acquire all of the outstanding common stock of ARC Global Trust II at an exchange rate of 2.27 Global Net Lease shares per ARC Global Trust II share.

93% of the votes cast at the Global Net Lease shareholder meeting and 86% of the votes cast at the ARC Global Trust II meeting were in favor of the transaction.

The transaction is expected to close Dec. 22.