Blackwells Launches Proxy Fights, Wants Board Seats at GNL, Necessity Retail

NEW YORK, Oct 25 (Reuters) – Blackwells Capital has launched two separate proxy fights for board seats at Global Net Lease Inc (GNL.N), opens new tab and Necessity Retail REIT Inc (RTL.O), opens new tab and wants the real estate companies to fire their outside manager, two people familiar with the matter said.
The investment firm nominated the same two director candidates at each company and also wants the firms to make sweeping governance reforms and even consider selling themselves, the sources said.