Blackwells Comments on Results of Monmouth Real Estate Investment Corp. Special Meeting

NEW YORK, Sept. 10, 2021 (GLOBE NEWSWIRE) — Blackwells Capital LLC (together with its affiliates “Blackwells”), an alternative investment management firm owning 4.36% of the common stock of Monmouth Real Estate Investment Corporation (NYSE: MNR) (“Monmouth” or the “Company”), today commented on the results of the Special Meeting of Monmouth Shareholders in which Monmouth shareholders overwhelmingly opposed the proposed merger with Equity Commonwealth.

Jason Aintabi, Chief Investment Officer of Blackwells, said:

Monmouth’s Board empaneled a conflicted Board committee to run its so-called strategic alternatives process, and then negotiated and endorsed a deal that was so obviously and grossly inadequate that, when it was put up for a vote, shareholders rejected it by a wider margin than any M&A transaction this century.