Leading Proxy Firms Recommend Support for OBDC and OBDE Merger
Blue Owl Capital Corporation (NYSE: OBDC) and Blue Owl Capital Corporation III (NYSE: OBDE) have received encouraging news regarding their pending merger. Highly respected independent proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have both recommended that shareholders vote "FOR" the merger. This support is pivotal as it increases the likelihood of a favorable outcome at the upcoming special shareholder meetings.
Strategic Benefits of the Merger
In their analysis, ISS underscored the sound strategic rationale behind the merger. They noted that the combined entity would have enhanced scale, which is likely to improve trading dynamics and generate long-term expense savings through operational synergies. Similarly, Glass Lewis pointed out that due to the alignment in their investment mandates and portfolio strategies, the merger is anticipated to be relatively straightforward to implement.
CEO's Perspective on the Merger
Craig W. Packer, CEO of both OBDC and OBDE, expressed his satisfaction with the positive recommendations from ISS and Glass Lewis. He stated, "We are pleased that both ISS and Glass Lewis support our Boards' unanimous recommendation that shareholders vote 'FOR' the pending merger. This merger is expected to significantly scale up OBDC's operations and diversify its portfolio, positioning it as the second-largest publicly traded Business Development Company (BDC) by total assets."
Importance of Shareholder Participation
With the special meetings scheduled shortly, it is crucial for all shareholders to participate actively in the voting process. Regardless of the number of shares held, every vote counts. Shareholders are urged to vote prior to the deadline of 11:59 p.m. Eastern Time on the last business day before the meeting.
Further Information and Resources
Details regarding the merger, including the joint prospectus and proxy statement, are accessible on the respective company websites. This information is vital for shareholders who wish to make informed decisions regarding their investments. Blue Owl encourages all shareholders to reach out should they have any questions about the merger or the voting process.
About Blue Owl Capital Corporation
Blue Owl Capital Corporation (NYSE: OBDC) specializes in financing U.S. middle-market companies. As of the latest reporting period, OBDC has built a robust portfolio consisting of 219 investments with a combined fair value of approximately $13.4 billion. Registered as a business development company under the Investment Company Act of 1940, OBDC is managed by Blue Owl Credit Advisors LLC, a leading investment adviser with an SEC registration.
About Blue Owl Capital Corporation III
Similarly, Blue Owl Capital Corporation III (NYSE: OBDE) is also dedicated to lending to U.S. middle-market companies. With a portfolio of 185 investments valued at around $4.2 billion, OBDE is positioned as a strong collaborator in this merger. It too is regulated under the Investment Company Act of 1940, with management provided by Blue Owl Diversified Credit Advisors LLC.
Frequently Asked Questions
What is the significance of the recommendations from ISS and Glass Lewis?
The recommendations from these firms highlight the strategic soundness of the merger, which can guide shareholders in their voting decisions.
How will the merger affect OBDC and OBDE?
The merger is expected to increase scale, enhance diversification, and boost operational efficiencies, making the combined company more competitive in the market.
What should shareholders do prior to the meeting?
Shareholders should review the proxy materials and cast their votes by the given deadline to ensure their preferences are accounted for.
Where can shareholders find more information about the merger?
Detailed information and resources regarding the merger can be found on the respective websites of OBDC and OBDE.
Who can shareholders contact for questions regarding voting?
Shareholders can contact Broadridge for assistance with questions related to the voting process or the joint prospectus.
