Blue Owl Capital Confirms Unsolicited Offer from Cox and Saba
Blue Owl Capital Corporation II confirmed receipt of an "unsolicited, minority tender offer" from Cox Capital Partners and Saba Capital Management for up to 8M shares of OBDC II, which is less than 7% of the outstanding shares. The offering price represents a discount of over 30% to net asset value, Blue Owl noted. It added, "The Board of Directors of OBDC II will carefully review and evaluate Cox and Saba's offer to determine the course of action it believes is in the best interests of OBDC II shareholders...While the Board is evaluating the offer, Blue Owl remains focused on maximizing value for all shareholders of OBDC II and protecting their interests through the disciplined execution of its investment strategy. OBDC II will advise shareholders of the Board's recommendation on the unsolicited tender offer in due course."
