Blue Owl Capital and Blue Owl Capital Corporation III obtain approval for merger
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 08 2025
0mins
Merger Approval: Blue Owl Capital (OBDC) and Blue Owl Capital Corporation III (OBDE) received overwhelming shareholder approval for their merger, with over 97% of OBDC votes and nearly 100% of OBDE votes in favor.
Dividends and Closing Date: The merger is expected to close around January 13, 2024, with OBDE declaring a special dividend of 52 cents per share and a quarterly dividend of 35 cents per share to be paid on January 9 and 10, respectively.
Analyst Views on OBDC
Wall Street analysts forecast OBDC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OBDC is 14.75 USD with a low forecast of 12.00 USD and a high forecast of 16.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 12.730
Low
12.00
Averages
14.75
High
16.00
Current: 12.730
Low
12.00
Averages
14.75
High
16.00
About OBDC
Blue Owl Capital Corporation is a specialty finance company focused on lending to United States middle-market companies. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation by targeting investment opportunities with favorable risk-adjusted returns, including senior secured, subordinated, or mezzanine loans and equity-related instruments. Its investment strategy is intended to generate favorable returns across credit cycles with an emphasis on preserving capital. It has investments in approximately 219 portfolio companies. Its portfolio by industry includes Internet software and services, insurance, food and beverage, asset-based lending and fund finance, healthcare providers and services, healthcare technology, buildings and real estate, consumer products, manufacturing, aerospace and defense, distribution, business services, and others. It is externally managed by Blue Owl Credit Advisors LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
